Coinme agree with California: violation of transaction limits and lack of disclosures punished in crypto-atms

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Coinme erzielt Vergleich mit Kalifornien wegen Verletzung der Vorschriften für Krypto-ATMs Coinme, ein Anbieter von Krypto-Geldautomaten, hat sich mit dem kalifornischen Department of Financial Protection and Innovation (DFPI) geeinigt, nachdem festgestellt wurde, dass das Unternehmen gegen die Vorschriften für Transaktionslimits und die Bereitstellung erforderlicher Informationen verstoßen hat. Dies stellt den ersten Durchsetzungsfall der DFPI im …
Coinme achieves comparison with California for violating the regulations for crypto-atms Coinme, a provider of crypto monetary machines, has agreed with the California Department of Financial Protection and Innovation (DFPI) after the company has violated the regulations for transaction limits and the provision of the necessary information. This provides the first asset event of the DFPI in ... (Symbolbild/KNAT)

Coinme achieves comparison with California for violating the regulations for crypto-atms

COINME, a provider of crypto monetary machines, has agreed with the California Department of Financial Protection and Innovation (DFPI) after it has been found that the company has violated the regulations for transaction limits and the provision of required information. This represents the first enforcement event of the DFPI in the area of ​​cryptocurrencies.

The agreement affects specific regulations that should ensure that users of crypto-atms are informed about transaction limits and receive clear information on the fees and risks when using the ATMs. The DFPI has emphasized how important it is to ensure transparency for consumers, especially in a rapidly developing area such as cryptocurrency.

With this comparison, Coinme sets a sign of compliance with the regulations in California and shows the willingness to follow regulatory requirements. Development is an important step in the direction of responsible use of crypto monetary machines and could encourage other providers in the industry to check and adapt their practices.

This also illustrates the growing attention of the regulatory authorities to the cryptocurrency sector and the need for companies to adhere to the legal requirements in order to gain trust among consumers and to avoid possible legal consequences.