Long-established Bitcoin ATM operator may face a ten-year industry ban
Jinse Finance reported that financial regulators in Washington State, USA, have recently filed charges against veteran bitcoin ATM operator Coinme and its CEO, alleging that between 2023 and 2024, they improperly recorded unredeemed customer bitcoin vouchers as company revenue, amounting to over $8 million, and failed to disclose or remit these funds as required. The regulators also accused them of failing to maintain the required net assets and submitting inaccurate financial reports. They plan to revoke Coinme's money transmission license, impose a 10-year industry ban on the company and its CEO, a $300,000 fine, and require compensation to customers.
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