Coinme to Shut Down Crypto Kiosks in $2.5 Million Multi-State Settlement

Coinme, a Seattle-based cryptocurrency money transmitter and kiosk operator, has agreed to shut down its virtual currency kiosk network by January 1, 2027, as part of a $2.5 million settlement with 34 state financial regulators. The settlement , announced October 8 by the Conference of State Bank Supervisors, resolves findings that the company’s anti-money-laundering (AML) controls for its kiosks fell short of Bank Secrecy Act (BSA) requirements. If Coinme misses the shutdown deadline, it faces an additional $4 million penalty.

Source: Blockchain Reporter