Connecticut regulators have suspended the money transfer license of Bitcoin Depot, the world's largest Bitcoin ATM operator, following an investigation that uncovered multiple violations. The company was found to have charged fees exceeding the state's 15% cap, affecting over 500 consumers who overpaid approximately $150,000 across more than 1,000 transactions. Additionally, Bitcoin Depot failed to fully refund fraud victims and did not meet certain disclosure and compliance requirements. As a result, Bitcoin Depot has been ordered to cease operations and shut down its self-service terminals in Connecticut. The company also disclosed an unresolved significant deficiency in its internal controls, which it plans to report in its upcoming annual report. Bitcoin Depot's stock has been under pressure, closing at around $4, marking a 39% decline over the past month and a 55% drop year-to-date.