The Washington State Department of Financial Institutions entered a consent order with Coinme, Inc. on 8 October 2026, joined by 34 other state regulators. Washington, Ohio, Georgia, Arkansas, North Carolina, Alaska and Illinois led the action. The order resolves a statement of charges the Department issued against Coinme in 2025 together with examination findings, and it closes the matter rather than opening a contested stage.
The Department records the action under Washington's Uniform Money Services Act, the act named in its enforcement listing for Coinme. Three findings are stated: failure to meet state net worth requirements, poor accounting practice, and a deficient Bank Secrecy Act and anti money laundering programme covering the crypto kiosks.
Coinme pays 2.5 million dollars in administrative penalty fees and costs and must close its crypto kiosks by the end of 2026. It must commission an independent compliance review of its Bank Secrecy Act and anti money laundering programme and correct every issue that review identifies. Kiosk operators licensed across the 35 participating states now face a settled regulator position that net worth shortfalls and weak transaction monitoring at kiosk networks draw coordinated multistate action rather than single state orders.
The announcement sets no calendar date for the independent review or for the remediation that follows it, and describes the 2.5 million dollars as penalty fees and costs rather than consumer restitution. The kiosk wind down deadline is the end of 2026.
Licentium advises money transmitters, crypto kiosk operators and payment firms on United States state licensing and financial crime compliance. Work we undertake includes multistate licence reviews, net worth and surety planning, Bank Secrecy Act programme assessments and responses to state enforcement actions.