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According to Coin ATM Radar, there are currently 38,725 crypto ATMs worldwide, with a vast majority located inside the United States.
Germany’s Federal Financial Supervisory Authority (BaFin) has launched a crackdown on crypto ATMs and seized 13 of these automated cash kiosks from 35 locations, the government regulator announced on Aug. 20.
The German financial regulator conducted the seizures in conjunction with the Federal Criminal Police Office, local law enforcement and Germany’s Bundesbank.
According to the government bureau, the ATM operators “illegally installed” the machines and failed to register them under Section 32 of the Banking Act. BaFin claimed that the exchange of euros to cryptocurrencies or vice versa breached the Banking Act.
Nudge seeks to unleash a new DeFi primitive called Re: allocation Value.
Nudge is launching a new decentralized finance (DeFi) protocol on Ethereum designed to unlock the economic value hidden in users’ wallets, it told Cointelegraph on Aug. 15.
It aims to create a two-sided marketplace where Web3 protocols pay users incentives — or “Nudges” — to redirect onchain assets, liquidity and engagement.
Nudge will unleash a new DeFi primitive called “Re: allocation Value” that represents the economic value of users’ onchain activities, according to the company.