Coinme pays $300K fine for violating California crypto ATM laws
The case marks California DFPI’s first enforcement action under the state’s Digital Financial Assets Law.
Seattle-based crypto ATM operator Coinme has agreed to pay a $300,000 penalty for violating daily transaction limits for crypto ATMs in California.
California caps crypto ATM transactions at $1,000 per customer per day under a law brought in last year. The company also failed to include required disclosures on customer receipts at its kiosks located in grocery and convenience stores across California, according to California’s Department of Financial Protection and Innovation.
It marks the DFPI’s first enforcement action under the state’s Digital Financial Assets Law.