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July 14, 2025
The California Department of Financial Protection and Innovation has levied a $300,000 fine against Seattle-based crypto kiosk operator Coinme for multiple violations of the state’s Digital Financial Assets Law, according to a press release. This marks the first enforcement action taken under the DFAL.
An investigation by the DFPI revealed that Coinme, which operates crypto kiosks in grocery and convenience stores across California, violated the DFAL’s daily transaction limit, which prohibits kiosks from accepting or dispensing more than $1,000 per customer per day. Additionally, Coinme failed to include required disclosures on customer receipts.
Under a consent order, Coinme has agreed to pay the $300,000 penalty, which includes $51,700 in restitution to an elderly California resident. The company also committed to implementing measures to prevent future violations.
“This enforcement action should send a strong message to kiosk operators that California means business when it requires digital asset companies to follow the rules that help prevent scammers from taking advantage of unsuspecting Californians,” KC Mohseni, DFPI commissioner, said in the release.
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