Washington State has reached a settlement with CoinMe, a Seattle-based cryptocurrency firm. The agreement mandates CoinMe to shut down all its cryptocurrency kiosks across the state by the end of the year. This action follows an examination that identified non-compliance with net worth requirements, poor accounting, and a deficient BSA/AML program. CoinMe will also pay $2.5 million in penalties and undergo an independent compliance review. Coinstar machines will remain operational.
Seattle, Washington
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