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Crypto Twitter Reacts To Deutsche Bank Raid
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Crypto Twitter Reacts To Deutsche Bank Raid

The New York Times is reporting today that Deutsche Bank has been raided over suspicions of money laundering by two unnamed employees. The bank has previously been critical of cryptocurrency as a means to take part in illegal activities, and crypto twitter hasn’t missed the opportunity to revel in the hypocrisy.

Two employees who were not identified but were revealed to be 50 and 46 are under investigation for a money laundering scheme tied to the recent release of the Panama Papers. It seems they may have been helping clients set up off shore accounts in order to avoid taxes, which is of course illegal.

As Bitcoinist has pointed out, this comes as a bit of an irony as Deutsche Bank’s head of the department against financial crime, Philippe Vollot, has previously called out crypto for the same basic crimes:

“Governments and regulators should thoroughly look into this to ensure that cryptocurrencies have the same financial crime protection rules as traditional payment solutions.”

Many were legitimately concerned about this turn of events.

 

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