Coinme fined 300,000 dollars for violating California cryptocurrency ATM regulations
Jinse Finance report, according to Cointelegraph, Coinme, a cryptocurrency ATM operator based in Seattle, has agreed to pay a $300,000 fine for violating California's daily transaction limit for cryptocurrency ATMs. According to the California Department of Financial Protection and Innovation (DFPI), California law sets a daily transaction limit of $1,000 per customer for cryptocurrency ATMs. Coinme not only violated this regulation, but also failed to include necessary disclosure information on the customer receipts from its self-service terminals located in grocery stores and convenience stores throughout California. According to the settlement agreement, Coinme agreed to pay the fine, including $51,700 in compensation to a California senior resident who claimed to have been scammed.
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