German Regulator Seizes 13 Crypto ATMS

Germany's financial regulator BaFin seized 13 crypto ATMs in a raid according to a statement by the regulator on Tuesday. The machines were operating without the required BaFin permission and posed money laundering risks, the statement said. BaFin officials with the support of the police and the Deutsche Bundesbank took action against operators in a total of 35 locations. Exchanging euros for crypto constitutes banking and requires a license from BaFin which wants to protect the integrity of the financial system and its consumers, the statement said. The regulator has seized bitcoin ATMs before. 

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