Coinme was fined 300,000 USD for violating the cryptocurrency ATM law in California.

robot
Abstract generation in progress

The Bitcoin ATM operating company Coinme has been fined by California regulators for violating new laws related to digital asset kiosks. According to the order, Coinme must refund 51,700 USD to affected users and pay a civil penalty of 300,000 USD, divided into three installments.

The DFPI agency determined that Coinme allowed transactions exceeding the limit of 1,000 USD/day and lacked exchange information on the receipts. The company is also required to adjust its policies, submit regular compliance reports, and terminate any violations.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)