Spanish Police: Bitcoin ATMs Highlight Flaws in EU Money Laundering Rules4.6

Following a Spanish investigation into a gang’s recently-busted money laundering operation, the nation’s police force claim to have exposed gaps in the European Union’s regulations designed to prevent money laundering. The group reportedly exploited the lack of  rules regarding Bitcoin trading terminals, popularly referred to as Bitcoin ATMs.

Authorities believe the criminal group used the machines to “clean” more than $10 million. Eight suspects have now been arrested from Spain and South America.

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