According to CoinDesk, German authorities have shut down 47 cryptocurrency exchanges suspected of involvement in criminal activities like money laundering. These exchanges were allegedly deliberately neglecting their obligation to conduct identity and background checks on their customers. Among them are Xchange cash, 60cek, Baksman, and a number of other smaller platforms.

Authorities pointed out that prosecuting these entities is challenging due to their controllers often residing outside of Germany in countries that "tolerate or even protect" such criminal activities.