Washington state financial regulators recently filed charges against Coinme and its CEO, claiming that between 2023 and 2024, it improperly recorded customers' unredeemed bitcoin credentials as company income, amounting to more than $8 million, and failed to disclose or hand over the funds as required.
Regulators also accused him of failing to maintain a required net worth and filing inaccurate financial reports. They plan to revoke his money transfer license and impose a 10-year industry ban on the company and CEO, a $300,000 fine, and customer compensation.
Veteran bitcoin self-service end point operator Coinme or banned for ten years
2025-12-04 21:57:57
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