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There are presently 38,725 cryptocurrency ATMs in the world, the bulk of which are found in the United States, according to Coin ATM Radar.

As part of a crackdown on cryptocurrency ATMs, Germany's Federal Financial Supervisory Authority (BaFin) has confiscated 13 of these automated cash kiosks from 35 locations, the government agency said on August 20.

Together with the Federal Criminal Police Office, local law enforcement, and Germany's Bundesbank, the German financial regulator carried out the raids.

Section 32 of the Banking Act states that the ATM operators "illegally installed" the machines and neglected to register them, according to the government office. The Banking Act was allegedly violated by BaFin when euros were exchanged for cryptocurrency or vice versa.
Furthermore, according to German officials, cryptocurrency ATMs in general may become a hub for criminal activity if their owners neglect to implement appropriate Know Your Customer procedures for transactions above 10,000 euros.

Present conditions of cryptocurrency ATMs worldwide
Despite the fact that the total number of Bitcoin ATMs deployed globally in 2024 had been getting close to all-time highs, a drop of 440 crypto ATMs in July upset the upward trend in machine installation. By August 1, there had been a further reduction of 173 ATMs.

The number of crypto ATMs deployed has rebounded, and since the beginning of August, 266 more ATMs have been built, according to the most recent statistics from Coin ATM Radar.

Part of the reason for the July and early August decline of Bitcoin ATMs worldwide was US shutdowns. US law enforcement officials have taken multiple enforcement measures against Bitcoin ATM operators, including Bitcoin of America, even though the precise causes of the shutdowns have changed.

Following an allegation of conducting money transmitter services without a license from the state's Department of Banking, Bitcoin of America agreed to cease operations in Connecticut in 2023.

Following complaints from multiple clients alleging they were conned out of tens of thousands of dollars, the state regulator launched legal action against Bitcoin of America.

The operator of the Bitcoin ATM consented to pay $86,000 in compensation to the affected parties as part of the consent decree.

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The German institution has shut down the crypto platform "#eXch " used for illegal transactions. 8 terabytes of data and 34 million euros ($38 million) worth of cryptocurrency were seized in the operation.
#German law enforcement authorities have shut down the crypto trading platform "eXch", whose server company is located in Germany and was detected in illegal transactions.
The press release stated that cryptocurrencies such as $BTC , Ether, $LTC and Dash were also seized along with 8 terabytes of data as part of the operation. It was stated that the cryptocurrencies seized amounted to 34 million euros ($38 million).
eXch has been operating since 2014 and provided direct conversion between different cryptocurrencies. It noted that the platform, which can be accessed via the Darknet, advertised, especially on "underground economy" forums, emphasizing that it did not implement any identity verification method. According to the statement, the platform in question mediated $1.9 billion worth of cryptocurrency transactions during its operation.
It was also determined that part of the 1.5 billion cryptocurrencies stolen from the hacked cryptocurrency exchange Bybit in February was laundered through eXch.
#AltcoinTrade #AltcoinSeasonComing #AltcoinSeasonLoading

The early parliamentary elections in Germany, which took place on February 23, 2025, may significantly impact the cryptocurrency market. Following the collapse of Olaf Scholz's coalition and the rise in popularity of the CDU/CSU led by Friedrich Merz, as well as the far-right 'Alternative for Germany' (AfD), investors are closely monitoring political changes in Europe's largest economy. The CDU/CSU advocates for strict regulation of cryptocurrencies, emphasizing the fight against money laundering. Merz's victory could lead to stricter rules for exchanges, which would reduce liquidity and deter some investors. In contrast, the AfD, which is gaining popularity, declares a more liberal approach that could potentially stimulate capital inflow into the crypto market. However, its pro-Russian stance raises concerns about stability. The geopolitical context is also important: the easing of sanctions against Russia, which is being discussed in the context of negotiations with the US, could push investors towards Bitcoin as a 'safe asset.' At the same time, Germany's economic stagnation due to the loss of cheap gas exerts pressure on risk assets, including altcoins. The market is already reacting: Bitcoin fluctuates around $100,000, while altcoins show correction. The outcome of the elections will determine whether Germany becomes a driver of crypto innovation or a brake on the industry in Europe. Investors should prepare for volatility.