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Cryptoassets & Blockchain Legal News

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France

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

July 7, 2014 by Ashley MAO

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.

More info from other sources

Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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