German Authorities Crack Down on Unlicensed Crypto ATMs, Seize $28 Million

Operation targets 35 locations, highlighting regulatory push against unregulated cryptocurrency activities.

Financial regulators and law enforcement confiscated 13 cryptocurrency ATMs operating without proper authorization.
Nearly €25 million in cash was seized in the nationwide operation led by BaFin and supported by local police and the German Bundesbank.
The crackdown aims to mitigate money laundering risks and enforce compliance with financial regulations.
Operators of unlicensed crypto ATMs face prosecution and up to five years in prison.
The action reflects broader global trends of increasing scrutiny on cryptocurrency operations.