According to TechFlow, on August 21, CoinDesk reported that the German financial regulator BaFin announced that it had seized 13 cryptocurrency ATMs in a large-scale operation. The operation involved 35 locations and was carried out by BaFin officials with the support of the police and the German Federal Bank. These ATMs were identified as money laundering risks because they did not obtain the required licenses from BaFin. Nearly 250,000 euros (about 278,000 US dollars) in cash were also seized in the operation.
BaFin said that exchanging euros for cryptocurrencies in Germany is a banking business that requires regulatory approval. Illegal operators may face police prosecution and a maximum sentence of 5 years in prison. This action reflects that Germany, as a member of the European Union, is actively implementing the Markets in Crypto Assets Act (MiCA) and strengthening supervision of the cryptocurrency industry.
