The German government has closed 47 exchanges, citing their connection to "illegal activities."

ChainCatcher news, German authorities have shut down 47 cryptocurrency exchanges suspected of being involved in money laundering and other criminal activities, stating that these exchanges deliberately failed to fulfill their obligations to conduct identity and background checks on customers. Some of these exchanges include Xchange cash, 60cek, Baksman, and several other smaller platforms. One of the exchanges has been active since 2012, while others were established just the previous year.