Washington state regulators are seeking to revoke Coinflip’s business license and impose a $1.03 million fine over alleged compliance violations tied to its cryptocurrency self-service terminals. The Washington State Department of Financial Institutions also wants Coinflip and its CEO to refund consumers and be barred from the related industry. The allegations stem from a 2025 review that reportedly found weaknesses in Coinflip’s compliance and risk management practices. The DFI said Coinflip’s crypto terminal business posed heightened scam risks to seniors, who accounted for more than 50% of the company’s Washington business. DFI Director Charlie Clark said state regulatory examinations are critical and that the agency will act when firms fail to meet compliance requirements.