Bitcoin

The German Federal Criminal Police Office (BKA) has <a href="https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html" rel="noopener noreferrer nofollow">announced</a> enforcement actions against several crypto exchanges. With support from the Central Office for Combating Internet Crime (ZIT), 47 exchanges allegedly tied to criminal activities have been closed. This is due to failing to comply with mandatory identity and background checks on customers, commonly referred to as Know Your Customer (KYC) requirements.The BKA&#39;s press release on Thursday highlighted that platforms like Xchange.cash, 60cek.org, and Baksman.com, along with several smaller exchanges, were involved in these violations.One of these <a href="https://cryptotale.org/btc-etfs-get-top-priority-over-other-exchanges-bitwise-cio/" rel="noopener noreferrer nofollow">exchanges</a> has been operational since 2012, while others launched recently.<h2 id="header-0">Government Seizes Customer Data</h2>The investigation led to the seizure of customer and transaction data. The BKA noted that many individuals behind these operations are located in regions where such activities are tolerated and protected.This geographical challenge complicates prosecution efforts. It makes it difficult for German officials to bring offenders to justice. As a result, authorities are redirecting their focus to disrupting the infrastructure supporting these illegal activities. This is opposed to pursuing the individuals directly involved.<a href="https://cryptotale.org/german-authorities-target-non-compliant-crypto-exchanges/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

German Authorities Target Non-Compliant Crypto Exchanges

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