Germany Shuts Down 47 Crypto Exchanges Over Money Laundering Concerns đš
German authorities have cracked down on 47 crypto exchanges accused of enabling money laundering by bypassing KYC (Know Your Customer) requirements.
These platforms allegedly allowed anonymous trades, attracting ransomware groups and darknet traders.
Key highlights:
- 47 crypto exchanges shut down by the Federal Criminal Police Office (BKA) and Central Office for Combating Internet Crime.
- User data from these exchanges was seized for further investigations.
- The crackdown follows similar actions, including the seizure of 50,000 BTC from a movie piracy site.
Germany continues to tighten regulations on crypto amid concerns of illicit activities.
