Germany Pulls the Plug: 47 Crypto Exchanges Shut Down!

Interesting that you only discover how many crypto exchanges a country may have when they decide to work, yes decide to enforce the law! Who could expect that German have more than 47 crypto exchanges?

But, guess what! They have, and the government shut down those 47 crypto exchanges for not complice with the law and for suspects of conducting illegal activities and money laundering. According to the press release, most of the, now closed, exchanges were acting illegally and without following any kind of KYC policy.

German which closed and seized almost 50,000 BTC from a site months ago, have been fighting to get there market clean with illegal platforms that laundry money on their nation.

The nation may have shutdown all those exchanges and become news because of this but, they were news when they seized those Bitcoins and decided to selloff them causing issues on the Bitcoin price, as at the time uncertainty was all over the market with also the Mt. Gox repayments, the dual news caused panic at the time.

Fortunately they sold all their stash, grabbed those billions and lost the chance to become a nation of Bitcoin standard HODLing those assets. But, who knows what is their strategy regarding Bitcoin? Remember:

CONTENT IS KING!