The California Department of Financial Protection and Innovation (DFPI) has ordered Hermes Bitcoin to shut down its 42 cryptocurrency ATMs in Southern California by May 20. The decision follows findings that the operator charged excessive fees and violated anti-money laundering regulations. As part of a settlement, Hermes Bitcoin is also prohibited from engaging in any digital asset business in California in the future. The DFPI emphasized its commitment to enforcing compliance and protecting consumers from fraudulent practices in the digital asset market.
California Orders Shutdown of Hermes Bitcoin ATMs for Regulatory Violations
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