California's first law enforcement: Coinme fined $300,000 for violating digital asset laws.

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[Coin World] Coinme, a cryptocurrency ATM operator, was fined $300,000 for violating California's Digital Financial Assets Law, marking the first enforcement action taken by state regulators under this law. The main violations included exceeding the $1,000 daily transaction legal limit and failing to disclose necessary information on receipts. Coinme is also required to compensate a scammed elderly resident $51,700. The California Department of Financial Protection and Innovation (DFPI) stated that this enforcement action sends a strong compliance signal to the industry. Data shows that in 2024, the amount involved in cryptocurrency ATM scams in the U.S. reached $246 million (a 31% year-over-year increase), with nearly two-thirds of victims being seniors aged 60 and above. The state's 2023 legislation specifically established regulatory requirements for ATM operators to prevent fraud risks.

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SmartContractPhobiavip
· 06-29 02:31
It's really a pitfall for the elderly, it's been banned.
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BoredStakervip
· 06-27 14:13
Most of them are elderly people. It's tragic, tragic, tragic~
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GhostWalletSleuthvip
· 06-26 14:17
The cost of breaking the law is too low.
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ProbablyNothingvip
· 06-26 06:30
A fine of only 300,000 is considered protection money, right?
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GasFeeNightmarevip
· 06-26 06:28
Again playing people for suckers the elderly.
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AirdropDreamBreakervip
· 06-26 06:28
300,000 fine? Pushing the boundaries went too far.
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GasWastingMaximalistvip
· 06-26 06:25
Bad companies even deceive the elderly.
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MEVHunterLuckyvip
· 06-26 06:15
Addressing the symptoms rather than the root cause Be Played for Suckers Be Played for Suckers
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