$272,800 seized From an Illegal Bitcoin Exchange in France

Europe France
It seems likely that the legal certainty provided by this ICO legislation will help to boost investor confidence and attract blockchain entrepreneurs from across the globe to France.

Three suspects accused of operating an illegal cryptocurrency exchange have been arrested in three French cities and 388 bitcoins seized by the French police.  The coins worth is estimated at $272,800 at current prices. The arrest came after a tip off from a retired policeman who purchased bitcoin on the illegal platform.

The arrest marks the first time a virtual currency exchange has bee closed in Europe and bitcoins seized.

Potential charges of illegal banking, money laundering and operating an illegal gambling website are also being examined.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction