The German Federal Financial Supervisory Authority (BaFin) stated that its permission is required to install crypto ATMs in public places.
“Trading with one’s own funds is a financial service, and a financial commission is banking business, which requires BaFin’s prior approval,” the statement said.
The regulator warned that those installing crypto ATMs without permission face liability under banking and financial activity laws.
The regulator noted that within its powers it has the right to seal both illegally installed devices and the premises where they are located.
BaFin reminded landlords providing premises, power or telecommunications services to unauthorized crypto-ATM providers of potential administrative liability. The regulator urged landlords in such cases to check that the operator holds a license, since a simple business permit is not enough.
According to Coin ATM Radar, there are 28 Bitcoin ATMs in Germany. The most are in Munich — 6 units, with Berlin and Düsseldorf each having four devices.
Earlier regulator began к конфискации BTC-банкоматов сети Shitcoins Club. Под управлением польского оператора компании KKT UG в стране находилось 17 терминалов.
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