The Washington State Department of Financial Institutions ((DFI)) has ordered Coinme—the Bitcoin ATM operator—to halt all money transmission activities and refund more than $8 million to customers. The regulator alleges that Coinme unlawfully converted funds from unredeemed vouchers into revenue, violating the Money Services Act. Coinme is accused of requiring customers to purchase paper vouchers at kiosks and redeem them online, but when the vouchers expired, the company recorded the unredeemed balances as income.
DFI also stated that from 2020–2025, Coinme failed to maintain the required net worth, submitted inaccurate reports, and did not clearly disclose voucher redemption deadlines. The company risks having its license revoked, facing a $300,000 fine, and being banned from operating for 10 years for both the business and CEO Neil Bergquist. Coinme has 20 days to request a hearing and says it is cooperating with regulators.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strategy’s 11.5% dividend equity bounces back faster than historical average to unlock more bitcoin buying
Stretch (STRC), the preferred equity of Strategy (MSTR), has reclaimed its $100 par value, allowing for capital raising to increase bitcoin holdings. STRC adjusts dividends to maintain price stability, facilitating share issuance for bitcoin purchases. Recently, Strategy bought 1,031 bitcoins at $74,326 each.
CoinDesk7m ago
Bitcoin Slumps to $68K as Middle East Peace Hopes Fade
Bitcoin fell 3.6% as geopolitical tensions between the U.S. and Iran rattled global markets. The cryptocurrency dropped from a high of $71,405 to $68,123, cutting its market capitalization to $1.36 trillion and dragging the broader crypto economy to $2.43 trillion.
Bitcoin Slides on
Coinpedia31m ago
BTC drops 0.69% over 15 minutes: Options expiration adjustments and risk aversion amplify short-term pressure
On March 26, 2026, from 17:45 to 18:00 (UTC), Bitcoin (BTC) experienced a -0.69% return within 15 minutes, with a price range of $68,385.8 to $68,956.2 USDT and an amplitude of 0.83%. Short-term volatility increased, market attention rapidly heightened, showing concentrated downward pressure.
The main driver of this movement was the approaching options expiration, with related position investors adjusting short-term holdings in response to the "maximum pain" zone ($75,000–$80,000), combined with the put/call ratio of options.
GateNews1h ago
Last Chance to Buy DeepSnitch AI Before March 31 as the Presale Nears Sellout: BTC Falls Below $70K as Saudi Arabia Reportedly Pushes to Extend Iran Conflict
Hot on the heels of Saudi Arabia pushing to extend the ongoing conflict with Iran, Bitcoin plummeted and broke below $70,000, having initially spiked to $71,000 following reports that talks between the US and Iranian authorities were going very well.
While BTC dips, a new crypto project has c
CaptainAltcoin2h ago
