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Banking Dive· Lynne Marek·· 5 hours agoAI score68

California regulator requires CoinFlip to pay $4.8 million in compensation to crypto ATM fraud victims

California takes CoinFlip to task

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AI-assisted source summary · not independently verified. Content standards

California regulators require crypto ATM operator CoinFlip to pay $4.8 million in compensation to fraud victims in the state. A regulatory investigation found that CoinFlip failed to adequately identify, prevent, report and mitigate suspicious activity over the past five years; the company has approximately 500 crypto ATMs in California.

Source:Banking Dive · bankingdive.com