Spain Arrests 30 Suspected of Laundering Money in Bitcoin Centers

  • Europe | Spain Arrests 30 Suspected of Laundering Money in Bitcoin Centers
  • The proceeds were allegedly laundered through investments in banking products, luxury cars, property as well as Bitcoin centers.
  • Six bitcoin “mining” centers were seized in the raid, they added, after an investigation alongside Spain’s tax office that started as a crackdown on a scheme to illegally decode and distribute pay-TV content.
  • MADRID – Spanish police said on Wednesday they had arrested 30 people suspected of illegally distributing pay television content and of laundering the proceeds by investing in bitcoin “mining” centers for processing transactions in the digital currency, which use intensive computing power to generate more bitcoins.
  • Police said the bitcoin “mining” operations had also been fraudulently using vast amounts of electricity to keep their computing systems running.

Read the full article, click here.


@Bitcoin_UAE: “”Spain Arrests 30 Suspected of Laundering Money in Bitcoin Centers” by REUTERS via NYT #Bitcoin”


Spanish police said on Wednesday they had arrested 30 people suspected of illegally distributing pay television content and of laundering the proceeds by investing in bitcoin


Spain Arrests 30 Suspected of Laundering Money in Bitcoin Centers