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Seattle-based crypto exchange company agrees to multi-state settlement

Seattle-based crypto exchange company agrees to multi-state settlement

A Seattle-based cryptocurrency company linked to multiple bitcoin ATMs in Whatcom County has agreed to shut down its kiosks following a multi-state settlement, the Washington State Department of Financial Institutions (DFI) announced Thursday.

The consent agreement with Coinme follows charges of unfair and deceptive practices, inaccurate receipts, failure to maintain records and filing inaccurate reports. The company allegedly claimed more than $8 million owed to customers as its own income and violated the Uniform Money Services Act.

DFI issued a temporary cease-and-desist order in early December, though the company was allowed to resume full operations later that month.

Coinme’s cryptocurrency can be accessed at…

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