According to BlockBeats, on September 20, the Frankfurt Attorney General’s Office and the country’s Federal Criminal Police Office (BKA) closed 47 cryptocurrency trading platforms suspected of being involved in criminal activities such as money laundering.
The BKA said in a press release on Thursday that the exchanges deliberately failed to comply with their obligations to conduct certain identity and background checks (KYC) on their customers. Some of the exchanges include Xchange, 60cek, Baksman, and other smaller platforms. One of the exchanges has been active since 2012, while the others were launched only the year before.
