Coin

<ul class="wp-block-list news-points"> 
 <li>Germany’s BaFin has seized 13 crypto ATMs that allegedly operated without regulatory compliance.</li> 
 <li>The authority captured 25 million euros, equivalent to $28 million, from these kiosks.</li> 
 <li>The regulators claimed that the operators failed to register and installed the machines illegally.</li> 
</ul> 
In a recent <a href="https://www.reuters.com/world/europe/germany-seizes-almost-25-mln-cash-crypto-atm-sting-2024-08-20/" target="_blank" rel="nofollow">crackdown on unregistered crypto ATMs</a> in Germany, the Federal Financial Supervisory Authority (BaFin) seized 13 machines across 35 locations and confiscated approximately $28 million, for alleged non-compliance with anti-money laundering regulations. 
The ATMs were reportedly operating without the necessary permits under Section 32 of the Banking Act. BaFin, supported by the Federal Criminal Police Office and the Bundesbank, targeted these machines across 35 locations in a recent operation. 
The financial regulator argued that the ATM operators installed the machines “illegally,” breaching regulatory norms. 
According to the data revealed by <a href="https://coinatmradar.com/charts/growth/" target="_blank" rel="nofollow">Coin ATM Radar</a>, the number of crypto ATMs has increased globally over the last year. The latest data revealed that the 17.8% surge in the number of crypto ATMs has resulted in the total number reaching 38,279, nearing the r…
The post <a href="https://coinedition.com/germany-cracks-down-on-unlicensed-crypto-atms/">Germany Cracks Down on Unlicensed Crypto ATMs</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Germany Cracks Down on Unlicensed Crypto ATMs

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