Coinme was fined 300,000 USD for violating the cryptocurrency ATM law in California.

The Bitcoin ATM operating company Coinme has been fined by California regulators for violating new laws related to digital asset kiosks. According to the order, Coinme must refund 51,700 USD to affected users and pay a civil penalty of 300,000 USD, divided into three installments.

The DFPI agency determined that Coinme allowed transactions exceeding the limit of 1,000 USD/day and lacked exchange information on the receipts. The company is also required to adjust its policies, submit regular compliance reports, and terminate any violations.