CHICAGO – The Illinois Department of Financial and Professional Regulation has joined 33 other state financial regulators in a $2.5 million settlement with Coinme, a Seattle based cryptocurrency kiosk operator, over violations of federal anti money laundering laws. Under the settlement, Coinme must end its cryptocurrency kiosk operations by Jan. 1, 2027, or face an additional $4 million penalty. The company also must hire an independent consultant to review its anti money laundering program and report findings to the states within six months. Coinme will then have 12 months to correct any problems identified in the review. Illinois officials say the settlement is part of efforts to protect consumers and prevent financial crimes involving digital assets. The state’s Digital Asset Kiosks Act, signed into law by Gov. JB Pritzker in August 2025, established new requirements for kiosk operators, including reporting kiosk locations and consumer protections intended to address fraud and scams. The law also requires operators to provide full refunds to eligible new customers who lose money to scams conducted through digital asset kiosks.
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