Germany seizes almost 250,000 euros in cash in crypto ATM sting

FILE PHOTO: Illustration picture of cryptocurrencies

FILE PHOTO: Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration/File Photo

Source: REUTERS

German authorities have seized almost 250,000 euros ($279,000) in cash in a nationwide operation targeting cryptocurrency ATMs, the country's financial regulator BaFin said in a statement on Tuesday.

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.

RECOMMENDED FOR YOU

Argentina Roundup: Báez properties raided, Machado jailed in US, Neuquén sets first 2027 election

BaFin worked together with law enforcement and the German Bundesbank to conduct the operation.

($1 = 0.8973 euros)

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters