DarkMarket Shut Down By German Police – Bitcoin Magazine

Popular darknet marketplace DarkMarket, which hosted an estimated half million users, was shut down by German police authorities in a raid conducted over the weekend.  Announcements from prosecutors in the cities of Koblenz and Oldenburg indicated that the operator of the marketplace was headquartered somewhere near the border between Germany and Denmark. The marketplace’s server was officially turned off yesterday. “Police in the northern city of Oldenburg ‘were able to arrest the alleged operator of the suspected world’s largest illegal marketplace on the darknet, the DarkMarket, at the weekend,’ prosecutors…

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German Bank to Launch Bitcoin Investment Fund in January

German private bank Hauck & Aufhäuser says it will launch a crypto investment fund in January next year, allowing institutional and semi-institutional investors to invest in digital assets including, bitcoin, ether, and stellar. ● According to a report on Fundview, the Frankfurt-based bank is partnering with local fintech company Kapilendo to establish the fund called ‘HAIC Digital Asset Fund I.’ Hauck & Aufhäuser will manage the fund while Kapilendo will act as the crypto asset depository. ● The minimum investment in the fund is 200,000 euros ($242,000), said the report.…

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Televend’s Complex System of Telegram Drug Bots Swell as German Police Seize 9 Telegram Drug Channels

During the last few months following the departure of the infamous Empire darknet market (DNM), a great number of DNM users have been flocking to alternative vendors. More recently, a new bot service on Telegram called Televend has been attracting tens of thousands of users and the service has grown colossal since it was first introduced. Meanwhile, law enforcement from Germany recently seized nine Telegram groups operating in the same manner. The demise of the darknet marketplace Empire has seen a wave of DNM users flocking to alternative DNMs, but…

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German Financial Regulator Takes Action Against First Bitcoin ATMs

The German financial watchdog is stopping the operations of a company KKT UG from Berlin that allows consumers to buy and sell cryptocurrencies at ATMs. Lack of necessary permission According to a March 4 statement, BaFin ordered Mr. Adam Gramowski, who runs KKT UG as managing editor, to cease cross-border proprietary trading. The order was issued on Feb. 26. On its website www.shitcoins.club, the company advertises 24 bitcoin machines für purchase and sale of cryptocurrencies in Germany. Moreover, its business apparently extends across the whole of Europe. According to his…

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How the Latest German Regulations Target Bitcoin Exchanges and Custodians – Bitcoin Magazine

A new German law requires every entity that holds private keys for others (e.g., bitcoin exchanges and/or bitcoin custodians) and that actively addresses the German market must become licensed as early as January 1, 2020. And to address the most common misconception right at the beginning: No, it absolutely not matter where your company is based. What matters is if you are addressing the German market with your services.  “The law implementing the amendment to the fourth EU money laundering directive (Federal Law Gazette I of December 19, 2019, p.…

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German SolarisBank Opens Subsidiary to Provide Custody Services for Digital Assets

Berlin-based fintech company solarisBank has established a subsidiary to provide a custody solution for digital assets. Per a Dec. 11 announcement, solarisBank’s newly established subsidiary, solaris Digital Assets GmbH, will provide clients with an application programming interface (API)-accessible platform, which gives access to the full range of solarisBank’s digital white-label banking services. No need to apply for a license The announcement further reads that solaris Digital Assets will operate in compliance with the regulatory requirements of the German market, as well as ensure storage of digital assets that is compliant.…

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