TechFlow reports that on September 21, according to The Block, two German government agencies under the Frankfurt Public Prosecutor's Office—the Central Office for Combating Cybercrime (ZIT) and the Federal Criminal Police Office (BKA)—conducted a joint operation shutting down 47 illegal exchanges, some of which involved cryptocurrency operations. Official statements indicate these trading platforms were suspected of money laundering by receiving and concealing illicit funds. Investigations revealed that during digital asset transactions, these exchanges deliberately circumvented KYC procedures and failed to verify user identities.
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