Germany Shuts Down 47 Crypto Trading Platforms Suspected of Money Laundering Activities
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September 20, 2024
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On September 20, the Public Prosecutor's Office in Frankfurt, Germany, and the country's Federal Criminal Police Office (BKA) shut down 47 cryptocurrency trading platforms suspected of being involved in criminal activities, including money laundering.
The BKA said in a press release on Thursday that these trading platforms deliberately failed to comply with obligations to conduct certain identity and background checks (KYC) on their customers. Some of the trading platforms included Xchange, 60cek, Baksman, and other smaller platforms. One of the trading platforms had been active since 2012, while others were launched only the previous year.
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