Washington Shuts Down Crypto ATM that Claimed $8 Million in User Funds as Income
Washington state regulators have ordered CoinMe to halt all money-transfer exercise after accusing the crypto ATM operator of treating greater than $8 million in buyer funds as its personal income. The Department of Financial Institutions (DFI) issued an emergency cease-and-desist order on December 1, citing “unsafe and unsound practices.” Regulator Flags Misuse of Customer Money…