Seattle-based crypto ATM provider Coinme has been hit with a $300,000 penalty for breaching California’s daily crypto transaction limits and failing to comply with disclosure rules at its kiosks, marking the state’s first regulatory action under its new Digital Financial Assets Law. The California Department of Financial Protection and Innovation ...
California is moving closer to officially embracing cryptocurrency, following the unanimous passage of Assembly Bill 1180 (AB 1180) in the State Assembly. Approved with a 68-0 vote on June 2, the bill now advances to the Senate for further consideration, marking a significant step in the state’s push to modernize ...
The California Department of Financial Protection and Innovation (DFPI) has joined forces with the California Department of Justice (DOJ) to combat cryptocurrency scams, successfully shutting down more than 26 fraudulent websites and uncovering $4.6 million in consumer losses. Announced on March 10, the operation was made possible through the ...
A California federal judge has denied crypto exchange Kraken’s request to appeal a ruling that allows the U.S. Securities and Exchange Commission (SEC) lawsuit against it to proceed. The decision, issued by Judge William Orrick on November 18, explains the court's stance that the SEC has sufficiently alleged that Kraken ...
The California Department of Financial Protection and Innovation (DFPI) announced on November 7 that it has permanently revoked the operating license of the bankrupt cryptocurrency lender BlockFi, citing continued violations of the California Financing Law (CFL) and unsafe business practices. According to the DFPI, BlockFi agreed to the license revocation ...
California's Department of Motor Vehicles (DMV) has partnered with the Avalanche blockchain and crypto infrastructure firm Oxhead Alpha to modernize the vehicle title transfer process. In a joint statement, the DMV and Avalanche highlighted that this blockchain integration will transform a traditionally two-week title transfer process into a matter of ...
California Governor Gavin Newsom has officially signed into law the Digital Financial Assets Law, a controversial bill that establishes a regulatory framework for cryptocurrency companies operating within the state. The legislation, passed by California's legislature in September 2023, will require crypto firms to secure licenses from the state's Department of ...
