German Authorities Close 47 Illegal Trading Platforms, Some Suspected of Using Cryptocurrencies for Money Laundering
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September 20, 2024
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On September 21, The Block reported that two German government agencies, the Frankfurt Public Prosecutor's Office, shut down 47 illegal trading platforms, some of which used cryptocurrency. Law enforcement officials said these platforms were suspected of money laundering through the acquisition and concealment of illegal funds. These exchanges bypassed "KYC" protocols to verify users' identities before allowing certain digital asset trades.
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