Illegal cryptocurrency distributors, installed in grocery stores or payphones, seized by the courts

In what appears to be a mobile phone store, two investigators examine their latest catch: a strange, massive electronic terminal, on which appear two instructions, « Buy bitcoin » (“buy bitcoin”) and « Sell bitcoin » (“sell bitcoin”). The device, a cryptocurrency ATM, is part of a two-part seizure carried out on June 13 and December 17, revealed Tuesday December 17 by the Paris prosecutor’s office. In total, thirteen machines of this type and 24,400 euros in cash were seized, as part of an investigation opened by the specialized interregional jurisdiction of the public prosecutor’s office, entrusted to the anti-cybercrime office and the Paris research section. , after a report from the Financial Markets Authority (AMF).

These terminals, which allow you to add or withdraw funds from a cryptocurrency wallet like you would withdraw from an ATM, were installed completely illegally. Companies wishing to offer cryptocurrency purchasing services on French territory must comply with anti-money laundering regulations and register with the AMF as digital asset service providers and obtain approval. However, these distributors are suspected here of having been installed illegally. They allowed cash to be exchanged or withdrawn anonymously “without any verification of the customer’s identity”explains the Paris prosecutor’s office, whose investigation also concerns acts of aggravated money laundering.

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