German authorities have shut down 47 cryptocurrency platforms linked to illegal asset movements.
- The Federal Criminal Police Office (BKA) and the Frankfurt General Public Prosecutor's Office reported that the platforms did not comply with customer verification (KYC) requirements.
- The closed platforms include Xchange.cash, 60cek.org, Baksman.com and others.
- Customer and transaction data were seized during the investigation.
- Authorities noted that prosecuting the perpetrators may be difficult since they are located outside of Germany.
- Earlier this year, the BKA seized 49,857 bitcoins, causing unrest in the crypto market.