Seattle -based Crypto ATM operator Quinn has agreed to pay a fine of 000 300,000, violating the daily transaction limits for Crypto ATM in California.
California Caps Crypto ATM transactions at $ 1,000 per day under a law brought last year. According to the California Department of Financial Protection and Innovation, the company failed to include the desired revelations on consumers’ receipts on its hollow and hollow stores in California.
It indicates the first DFPI implementation of the state’s digital financial assets law.
Under the consent order, Coinme has agreed to pay the penalty, including an elderly resident of California, a rehabilitation of $ 51,700, which claims that it has been scheduled.
KC Mohsini, a DFPI commissioner, said, “The action of the implementation should” send a strong message to the Crypto Kiosk operators “that the state means when it requires digital asset companies to follow the rules that help the scammers benefit from uncertain California. “
The Quintel Graph reached the Coin for further comment.
Crypto ATM scams are growing
The DFPI said that the scammers try to purchase crypto assets in ATMs and move the funds directly to a cheating wallet.
The Digital Financial Asset Law was enforced in 2023, especially through the Cusecar Operator rules to deal with these risks.
In April, the FBI reported that in 2024 there were about 11,000 complaints associated with crypto ATM scams and more than $ 246 million, which increased from 2023 to 31 %. Two -thirds of the scam was over 60 years old.
Crypto ATM in Washington banned
Washington’s second largest city, Spoken, took a step forward by banning crypto ATMs last week.
Related: Crypto ATM network shrinks when we lose 1,200 machines in days
The move was imposed to protect citizens from scams and money laundering, local police have claimed that funds collected in Crypto Causes “ended” in places like China, North Korea and Russia. “
ACA ATM Sting
Meanwhile, the Australian Federal Police said on Wednesday that they had contacted more than 90 citizens as part of a crackdown on criminal use of crypto ATMs, including the pigs, including victims and suspected criminals.
In Texas, a County Sheriff took a family last week, after a family scam, a family of 25,000, taking a device to cut electricity in a local crypto cusec.
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