Seattle-based crypto ATM provider Coinme has been fined $300,000 by the California Department of Financial Protection and Innovation for breaching the state's Digital Financial Assets Law. The company allowed transactions exceeding a $1,000 daily limit and failed to provide required disclosures, leading to regulatory action. The fine includes restitution to a scam victim, reflecting California's serious stance against crypto fraud targeting vulnerable populations. This case underscores the importance of strict compliance amid increasing state-level crypto regulations.
Continue to read Coinme Faces $300K Penalty in California for Violating Crypto ATM Transaction Limits
Seattle-based crypto ATM provider Coinme has been fined $300,000 by the California Department of Financial Protection and Innovation for breaching the state's Digital Financial Assets Law. The company allowed transactions exceeding a $1,000 daily limit and failed to provide required disclosures, leading to regulatory action. The fine includes restitution to a scam victim, reflecting California's serious stance against crypto fraud targeting vulnerable populations. This case underscores the importance of strict compliance amid increasing state-level crypto regulations.
Continue to read Coinme Faces $300K Penalty in California for Violating Crypto ATM Transaction Limits
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