DFPI Fines Kiosk Operator $675,000 for Alleged Violations of the Digital Financial Assets Law

On October 30, the California DFPI announced a consent order against a Nevada-based crypto kiosk operator for alleged violations of the Digital Financial Assets Law and the California Consumer Financial Protection Law. The action follows a DFPI investigation into widespread noncompliance among crypto ATM operators, which the agency has identified as a growing consumer-protection concern….
By: Sheppard Mullin Richter & Hampton LLP