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Bitcoin Depot, the world's largest Bitcoin ATM operator, has had its license suspended in Conne

2026-03-18 14:18:32

Bitcoin Depot License Suspended in Connecticut Over Fee Violations, Scam Refund Failures

Bitcoin Depot just got shut down in Connecticut. Regulators suspended the company's money transmission license, citing a string of violations: charging fees above the 15% state cap on over 1,000 transactions, costing 500+ consumers roughly $150,000; failing to refund scam victims who used its kiosks; and skirting disclosure and compliance rules. The state ordered an immediate halt to operations and a shutdown of all kiosks.

Separately, Bitcoin Depot warned it will report an "unremediated material weakness" in its internal controls. The stock is reeling—down 39% in a month, 55% year-to-date, trading around $4.

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