Public announcements by BaFin or German financial authorities

Germany Seizes €25M, 13 ATMs in Crypto Crackdown

Aug 21, 2024, 01:42 PM

German financial regulator BaFin has conducted a nationwide operation targeting unlicensed cryptocurrency ATMs, seizing nearly 25 million euros ($28 million) in cash. The crackdown involved the seizure of 13 crypto ATMs that were operating without proper licensing. This operation, which was carried out with the assistance of police and financial authorities, is part of Germany's efforts to enforce compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. The action reflects a broader move towards tighter controls on cryptocurrency operations in Europe.