Coinme Fined $300,000 for California Crypto Law Violations
Coinme, a crypto kiosk operator, has been ordered to pay $300,000, which includes $51,700 in restitution to victims, for breaching California’s Digital Financial Law, as announced on Wednesday.
Updated: 6:33 PM PDT Jun 25, 2025
SACRAMENTO, Calif. —
Coinme has been penalized with a $300,000 fine, which includes $51,700 designated for victim restitution, due to infractions against California’s Digital Financial Law, as stated by the California Department of Financial Protection and Innovation (DFPI) on Wednesday.
The Seattle-based firm operates crypto kiosks, or ATMs, in various locations across California, including grocery and convenience stores, where customers can trade cash for digital currency.
Following an investigation by the DFPI, it was discovered that Coinme failed to adhere to the Digital Financial Assets Law (DFAL), which imposes a $1,000 limit on daily transactions per kiosk. Additionally, Coinme neglected to provide necessary disclosures on customer receipts.
The DFPI subsequently reached a consent order with Coinme, mandating the payment of the fine, including compensation to an elderly resident in California. This action marks the first enforcement of the DFAL, a 2023 statute intended to protect consumers in the digital asset space.
The DFAL aims to safeguard individuals from cryptocurrency scams often facilitated through these kiosks, where scammers transfer digital assets into their own wallets after transactions.
As DPFI Commissioner KC Mohseni stated, “This enforcement action should send a strong message to kiosk operators that California is serious about enforcing digital asset regulations.” For more information about cryptocurrency scams or to report fraud, visit the DFPI’s official website.
