Germany’s BaFin Seizes 13 Crypto ATMs in Nationwide Crackdown 🚨

In a bold move to protect the financial system, Germany’s financial regulator, BaFin, seized 13 crypto ATMs across the country on Tuesday. This major crackdown targeted 35 locations, pulling in nearly €250,000 in cash. These ATMs were operating without BaFin’s approval, becoming hotspots for money laundering and other shady activities. Now, their owners could face up to five years in prison.

BaFin made it clear: no permission, no operation. Converting euros into crypto or vice versa is considered banking or proprietary trading, requiring express permission from BaFin. This operation, coordinated with the Bundesbank and the Federal Criminal Police Office (BKA), was all about shutting down unauthorized activity in the financial system. Some of these machines were particularly risky, attracting users looking to move large sums of money anonymously—without proper KYC procedures in place, they were a magnet for trouble.

BaFin’s action is a strong reminder that they act in the public interest, with the main goal of maintaining a stable, secure, and trustworthy financial system in Germany.

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