On October 8, 2026, the ABA Banking Journal reported that Coinme, a cryptocurrency exchange, has agreed to close down its virtual currency kiosk operations in multiple states as part of a settlement with 34 state financial regulatory authorities over alleged BSA and anti-money laundering violations. According to the article, Coinme currently collaborates with coin-counting kiosk operator Coinstar to provide approximately 6,000 Bitcoin ATMs in the U.S.

Under the terms of the settlement, Coinme will pay $2.5 million and cease operating its virtual currency kiosks in the participating states or face an additional $4 million penalty. The company must also hire an independent consultant to assess the comprehensiveness and effectiveness of its BSA/AML program and submit a report to the states within six months.

Read the ABA Banking Journal article here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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