German authorities recently closed 47 cryptocurrency exchanges suspected of being involved in criminal activities such as money laundering. The exchanges were accused of deliberately failing to fulfill their obligations to conduct identity and background checks on customers. The closed platforms include Xchange cash, 60cek, Baksman, and some other smaller exchanges. It is worth noting that one of the exchanges has been active since 2012, while the others were only established the year before. This action shows the regulator's strict regulatory attitude towards the cryptocurrency market. 🔍