Germany has shut down 47 Crypto exchanges in the country for neglecting KYC, creating conditions for criminals to launder and transfer illegal money.

Some exchanges were named such as Xchange. cash, 60cek, Baksman, ... Including exchanges that have been operating since 2012 and some that were only launched last year.

However, most of the exchange owners live in other countries, so prosecution is almost impossible.

The German government seems to be unfriendly to Crypto when it previously sold all 50K #BTC from the pirated movie website Movie2k to earn 2.9 billion USD, causing the market to fluctuate at that time.