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<ul class="news-points wp-block-list">
 <li>German authorities shut down 47 illegal crypto exchanges, combating money laundering.</li>
 <li>Crackdown on cybercrime continues with millions seized from illicit platforms.</li>
 <li>Commerzbank enters regulated crypto trading, offering Bitcoin and Ether services.</li>
</ul>
German authorities have <a href="https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html" target="_blank" rel="noopener noreferrer nofollow">stepped up enforcement</a> against unauthorized crypto exchange providers in the nation. The Federal Criminal Police Office (BKA), along with the Frankfurt Public Prosecutor’s Office, shut down 47 exchange services, reportedly involved in money laundering and other criminal activities.
The deactivated exchanges once acted as safe havens for cybercriminals, including ransomware groups and darknet dealers. These exchanges had continued to operate without adhering to KYC norms, which helped criminals to trade crypto anonymously. Regulators claim these unregulated exchanges profited by laundering substantial sums of money.
The vast amount of user and transactional information collected can be of great use in the ongoing investigations of the cyber criminals.&nbsp;
Read also: <a href="https://coinedition.com/germany-cracks-down-on-unlicensed-crypto-atms/" rel="noopener noreferrer nofollow">Germany Cracks Down on Unlicensed Crypto ATMs</a>
<h2 class="wp-block-heading" id="h-germany-s-focus-on-combating-cybercrime">Germany’s Focus on Combating Cybercrime</h2>
Germany has been ramping up its e…
The post <a href="https://coinedition.com/germany-shuts-down-47-illegal-crypto-exchanges-seizes-millions/" rel="noopener noreferrer nofollow">Germany Shuts Down 47 Illegal Crypto Exchanges, Seizes Millions</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Germany Shuts Down 47 Illegal Crypto Exchanges, Seizes Millions

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