TechFlow, November 1 — According to Decrypt, the California Department of Financial Protection and Innovation (DFPI) has fined Bitcoin ATM operator Coinhub $675,000 for violating digital asset laws.
The investigation found that since 2024, LSGT Services LLC, operating under the name Coinhub, charged markup fees exceeding legal limits, accepted cash transactions above the daily $1,000 cap, omitted critical information on receipts, and failed to provide legally required disclaimers before transactions.
DFPI Commissioner KC Mohseni stated that cryptocurrency terminal operators in California should take note: regulators will root out bad actors and fraudsters who put consumers’ hard-earned money at risk.
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