Germany seizes over $30m in cash in crypto ATM sting
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German authorities seized 13 machines that had been operating without the necessary permits, posing a risk of money-laundering.
PHOTO: REUTERS
BERLIN - German authorities have seized almost €25 million (S$36 million) in cash in a nationwide operation targeting cryptocurrency ATMs, the country's financial regulator BaFin said, in a statement on Aug 20.
Authorities seized 13 machines that had been operating without the necessary permits, posing a risk of money-laundering, according to the regulator.
The ATMs had been used to trade bitcoin and other cryptocurrencies and were located in 35 different locations, the statement said.
BaFin worked together with law enforcement and the German Bundesbank to conduct the operation. REUTERS
