Svmuu News: The Dutch Public Prosecutor’s Office has requested that a Rotterdam court declare the crypto platform Knaken Cryptohandel and its affiliated entity, Stichting Knaken Payments, bankrupt, citing “the public interest” as the reason. Knaken has been offline since early June, leaving approximately 30,000 customers unable to access their funds.
Knaken previously allowed users to exchange euros for cryptocurrencies such as Bitcoin and Ethereum, and provided services for trading and storing digital assets. Under EU crypto regulations, such activities require a license from the Dutch financial regulator, the AFM, but Knaken did not hold the necessary license. A separate criminal investigation initiated by the Fiscal Information and Investigation Service is currently underway; investigators raided relevant premises on Monday, seizing laptops, cell phones, and company assets. No arrests have been made so far. (Decrypt)