Coinme Fined $300K for Violating California’s Crypto ATM Daily Limits — A Tech Analyst’s View
The Fine That Tells a Bigger Story
I was reviewing the Coinme penalty notice last week—not as a regulator, but as someone who builds quant models for crypto liquidity. \(300,000 isn’t just a fine; it’s a signal. California’s DFPI enforced its \)1,000 daily transaction cap not because they hate innovation—they hate opacity.
The Silent Failure of Disclosure
Coinme didn’t just exceed limits. They failed to provide digital receipts—critical for audit trails and consumer protection—especially to older users in convenience stores and gas stations across LA. No one asked them to explain how transactions were logged. That wasn’t negligence; it was systemic avoidance.
When Compliance Becomes Culture
I’ve advised hedge funds on blockchain compliance frameworks for years. This case mirrors what happens when tech firms mistake convenience for consent. The victims? Not investors—elderly Californians trying to cash out crypto like cash at ATMs that never printed receipts.
The Real Cost of ‘Crypto Convenience’
DFPI’s KC Mohseni called this an ‘urgent signal.’ I’d rephrase that: in Web3, if your interface doesn’t print evidence—you’re not innovating, you’re exploiting trust.
The punishment? It was calculated—and so should your next architecture be.
CryptoValkyrie
Hot comment (5)
เงินหาย 300K? นี่มันไม่ใช่แค่ขาดทุน… มันคือการ ‘ปลดล็อก’ จากความสะดวกแบบไทย! เครื่อง ATM พิมพ์ใบเสร็จเป็นข้าต้มกับข้าเหนียวแทนเงินสด? อ๋อ… เราถูกสอนว่า crypto ต้องโปร่งใส… แต่กลับเจอแต่ความลับที่ซ่อนอยู่ในร้านขายแก๊ส! เฮ้ยยยย… คนไทยเราอยากได้กำไร… แต่พอจะถอนเงิน ก็เจอแต่เหรียญดิจิตอลที่ไม่มีใครรู้ว่ามาจากไหน 😅
แล้วคุณล่ะ? เงินคุณหายไปไหนตอนเข้าระบบ Web3?
So California fined Coinme $300K for using a crypto ATM like it’s a gas station… but honestly? They didn’t hate innovation—they just hated opacity. My quant models weep. You can’t ‘cash out’ crypto if your interface doesn’t print receipts. That’s not negligence—it’s systemic avoidance wrapped in an MBA thesis. Next time: swap your DeFi wallet for duct tape. #CryptoATMProblems
Coinme denda $300K? Wah, ini bukan tilang biasa—ini ritual harian! Di Jakarta, kita jual beli kopi pakai QR code, tapi malah disuruh bayar pakai ATMs yang nge-print struknya pake blokchain. Kalau kamu nggak bisa transaksi? Bukan salah—ini sistem avoidance! Coba deh cek saldomu… jangan sampai keceplosan! Ada yang mau komplain? Klik like cash out di warung terdekat—tapi jangan lupa: uangnya kopi dan tempe!
โฉันนี่ไม่ใช่แค่โทษเงิน 300K… มันคือพิธีกรรมทางเทคโนโลยีที่วัดในลาสเวกัส! คนแก่ๆ เข้าไปถอนคริปโตที่ตู้ ATM แล้วนั่งสมาธิแทนการจ่ายเงิน เพราะ ‘ความสะดวก’ ในยุคดิจิทัลคือการหลอกตัวเอง… แล้วใครจะรู้ว่าแท้จริงแล้ว ‘blockchain’ คือวัดใหม่? 🙏 เขียนคอมเมนต์นี้ตอนกลางดึก… แล้วมาแชร์กับเพื่อนที่ยังเชื่อว่า Bitcoin จะช่วยให้ชีวิตสงบได้จริงไหม?
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