Nostronaut on Nostr: The German regulator BaFin seized 13 bitcoin ATMs for alleged lack of banking ...
The German regulator BaFin seized 13 bitcoin ATMs for alleged lack of banking licenses. They seized 28 mEUR in „illegal“ funds.
Whatever the facts around this case may be, let’s remember that the German financial „watchdog“ was fast asleep while Germany‘s worst accounting fraud in postwar history, WireCard, was playing out right under their otherwise so snoopy nose.
Considering that appr. 5,000,000,000 EUR were pulled out of investors’ pockets back then they just need to bust another 2,500 „illegal“ bitcoin ATMs à 2,000,000 EUR each to compensate for their failure to perform their duties.
These are the institutions that keep on wondering why „trust is eroding“.
Keep wondering.
https://www.coindesk.com/policy/2024/08/21/german-regulator-seizes-13-crypto-atms/
#bitcoin #AML #BaFin #corruption
Whatever the facts around this case may be, let’s remember that the German financial „watchdog“ was fast asleep while Germany‘s worst accounting fraud in postwar history, WireCard, was playing out right under their otherwise so snoopy nose.
Considering that appr. 5,000,000,000 EUR were pulled out of investors’ pockets back then they just need to bust another 2,500 „illegal“ bitcoin ATMs à 2,000,000 EUR each to compensate for their failure to perform their duties.
These are the institutions that keep on wondering why „trust is eroding“.
Keep wondering.
https://www.coindesk.com/policy/2024/08/21/german-regulator-seizes-13-crypto-atms/
#bitcoin #AML #BaFin #corruption