California's first law enforcement: Coinme fined $300,000 for violating digital asset laws.

[Coin World] Coinme, a cryptocurrency ATM operator, was fined $300,000 for violating California's Digital Financial Assets Law, marking the first enforcement action taken by state regulators under this law. The main violations included exceeding the $1,000 daily transaction legal limit and failing to disclose necessary information on receipts. Coinme is also required to compensate a scammed elderly resident $51,700. The California Department of Financial Protection and Innovation (DFPI) stated that this enforcement action sends a strong compliance signal to the industry. Data shows that in 2024, the amount involved in cryptocurrency ATM scams in the U.S. reached $246 million (a 31% year-over-year increase), with nearly two-thirds of victims being seniors aged 60 and above. The state's 2023 legislation specifically established regulatory requirements for ATM operators to prevent fraud risks.