Missouri Sues CoinFlip, Crypto ATM Operator Calls Lawsuit “Meritless”
Missouri has sued the operator of crypto ATM community CoinFlip, accusing the corporate of knowingly facilitating fraudulent transactions and making the most of them by way of extreme charges charged at its kiosks throughout the state.
Attorney General Catherine Hanaway’s workplace filed the motion. The state is in search of civil penalties of as much as $1.826 million and a courtroom order blocking additional operations in Missouri.
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Missouri Sues CoinFlip Alleging Fraud Facilitation
The lawsuit follows a probe Hanaway opened in December into a number of crypto kiosk operators after reviews of scams concentrating on Missouri residents. The similar investigation additionally examined Bitcoin Depot. The agency filed for Chapter 11 bankruptcy this month.
Meanwhile, CoinFlip presently runs 136 kiosks in Missouri and 4,229 nationwide, in response to its locations web page. The case is the newest in a wave of state and municipal actions against crypto kiosk operators, with a number of jurisdictions shifting to limit or ban the machines outright.
“Bitcoin and crypto ATMs are the brand new getaway vehicles for fraud, whisking away harmless folks’s cash to scammers, by no means to return,” said Attorney General Hanaway.
CoinFlip Pushes Back, Calls Suit Meritless
In an announcement shared with BeInCrypto, an organization spokesperson rejected the allegations and stated CoinFlip has actively lobbied for harder client protection rules in Missouri and different states.
“Attorney General Hanaway’s lawsuit is meritless. It’s a misguided assault on the corporate that has spent years urging the passage of cryptocurrency kiosk client safety legal guidelines in Missouri and throughout the nation… CoinFlip will struggle this lawsuit aggressively, and we sit up for demonstrating that these allegations are baseless,” the spokesperson informed BeInCrypto.
The spokesperson additionally added that CoinFlip was a key pressure behind Missouri’s 2025 cryptocurrency kiosk client safety laws.
The firm labored immediately with state lawmakers to safe necessary licensure, stronger compliance requirements, and significant client safety necessities to defend Missourians from scammers.
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The submit Missouri Sues CoinFlip, Crypto ATM Operator Calls Lawsuit “Meritless” appeared first on BeInCrypto.