Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesWashington did not permanently ban Coinme. The Washington State Department of Financial Institutions (DFI) issued a Temporary Order to Cease and Desist on November 25, 2025, after alleging that the crypto-kiosk company treated more than $8 million in unredeemed voucher amounts as income and violated other money-services rules. DFI announced the action on December 1. A December 23 consent order stayed the temporary shutdown, allowing Coinme to resume Washington money-transmission activity under safeguards while the underlying charges remained unresolved.
What happened, in brief
- DFI’s temporary order barred Coinme from conducting new money-transmitter business for Washington customers without approval.
- The regulator alleged that Coinme recorded unredeemed cryptocurrency-voucher amounts as company income, failed to meet certain financial and reporting requirements, and gave some customers receipts with an inactive support number.
- The order required customer-asset protection, potential restitution, records, reports, controls, training and cooperation with the investigation.
- The December 23 consent order stayed the temporary order and permitted operations to resume, but expressly did not decide the Statement of Charges.
The primary documents are DFI’s Temporary Order to Cease and Desist, the December consent order and DFI’s public announcement.
What Coinme does and why Washington regulates it
Coinme operates cash-to-cryptocurrency kiosks and related digital-account services. A customer can deposit cash at a kiosk, receive a paper voucher representing the transaction, and redeem it through Coinme’s website or mobile application. That activity falls within Washington’s money-services regulatory framework, the Uniform Money Services Act in Chapter 19.230 RCW.
Washington lists Coinme, Inc., based in Seattle and identified by NMLS No. 1185542, in its enforcement records. The action was a Washington state proceeding, not a federal case or a nationwide shutdown.
Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →#1 Best Overall
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
- Protect your signer: keep it in mint condition at all times with a bespoke Pod or Case to avoid scratches and everyday wear and tear.
The central dispute: unredeemed vouchers
How the voucher process worked
- A customer bought virtual currency at a Coinme kiosk.
- The kiosk produced a paper voucher.
- The customer redeemed the voucher through Coinme’s website or app.
- Some vouchers were not redeemed promptly.
- DFI alleged that Coinme later recorded the amounts associated with those vouchers as income.
What DFI alleged
According to the temporary order, Coinme’s accounting included $2,201,254 at year-end 2023 and $6,170,822 at year-end 2024 as income from unredeemed vouchers. Together, those examples total about $8.37 million. The order says the figures included Washington and non-Washington customers, so they cannot be described as $8.37 million owed only to Washington residents.
DFI alleged that Coinme did not adequately disclose the time customers had to redeem vouchers, when unredeemed amounts could be recognized as company income, or how remaining customer property would be handled. The regulator treated the issue as a customer-property and money-transmission matter, including possible unclaimed-property obligations, rather than merely an internal accounting choice.
Coinme’s position
Coinme disputed the allegations. In comments reported by GeekWire, the company characterized the matter as an accounting dispute involving a discontinued voucher product, said its treatment followed professional guidance, and said customers could still redeem vouchers or request dollar refunds. The company also objected to the regulatory process and sought an administrative hearing.
Rank #2
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide (4.9 App Store, 4.8 Google Play) - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
Those competing positions are not a final ruling. The cited DFI orders establish allegations and interim requirements, not a finding that every voucher amount was permanently lost or that Coinme committed fraud.
Other violations DFI alleged
The temporary order describes additional alleged violations from approximately 2020 through 2025:
- Tangible net worth: DFI said Coinme had negative tangible net worth at the ends of 2022, 2023 and 2024, even after accounting for the alleged voucher income. That allegation does not by itself establish insolvency or prove that customer funds were unavailable.
- Permissible-investment records: The regulator alleged Coinme did not always maintain records supporting compliance with requirements governing assets backing customer obligations.
- Reporting: DFI alleged that required information was not reported on time and that some reports filed with the agency were inaccurate.
- Customer receipts: Receipts issued approximately June 10 through October 23, 2024, allegedly listed an inactive support telephone number.
For a licensed money transmitter, these controls help regulators verify that customer obligations are backed, records are reliable and customers can obtain support. The legal status of each allegation remains part of the pending administrative case.
Rank #3
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
What the November 25 temporary order required
A Temporary Order to Cease and Desist is an emergency administrative measure intended to stop alleged conduct while a regulatory case proceeds. DFI’s order required Coinme to:
- Stop conducting new money-transmitter business for Washington customers unless DFI authorized it.
- Stop violating Washington’s Uniform Money Services Act.
- Stop treating Washington customers’ unredeemed vouchers as “breakage” income.
- Hold assets owed to Washington customers in secure, segregated accounts.
- Pay restitution to Washington customers with unredeemed vouchers, as required by the order and later process.
- Provide DFI with a customer list and evidence of restitution and escheatment.
- Submit historical permissible-investment reports.
- Implement compliance controls, policies and training.
- Cooperate with DFI’s investigation and provide requested records.
The initial operational restriction did not necessarily make all Coinme assets inaccessible. The order addressed new Washington money-transmission business while allowing existing customers to withdraw assets under its terms.
Recommended Free Tools
What penalties DFI sought
DFI’s announcement and Statement of Charges indicated that the agency sought or contemplated:
Rank #4
- EAL5+ CERTIFIED SECURE ELEMENT + FINGERPRINT PROTECTION — Your private keys stay encrypted offline on a certified EAL5+ chip, the same security tier used in EMV bank cards. Built by DCENT, securing crypto since 2018. Fingerprint authentication adds a second layer no PIN-only wallet can match.
- 10,000+ ASSETS NATIVE ON 100+ BLOCKCHAINS — Hold Bitcoin, Ethereum, XRP, Solana, Cardano, popular stablecoins (USDT, USDC), and NFTs in one wallet. No third-party apps, no fragmented setup — every supported asset works straight out of the box.
- TAP-TO-SIGN MOBILE EXPERIENCE — Pair your wallet with the DCENT mobile app over Bluetooth. Manage tokens, review transactions, and access in-app swap features directly from your phone — no cables, no desktop required.
- WEB3 & dAPP ACCESS VIA METAMASK — Connect to MetaMask and other browser extension wallets to manage NFTs, claim airdrops, and access dApps. A large screen and intuitive 4-button interface keep every transaction clearly visible before you sign.
- SEAMLESS FIRMWARE UPDATES & 30-DAY MONEY-BACK GUARANTEE — Apply security updates without resetting your wallet or migrating funds. Backed by Amazon's 30-day money-back guarantee — your purchase is risk-free.
| Proposed consequence | Status in the cited record |
|---|---|
| Restitution to affected Washington customers | Proposed or required as part of the regulatory action; final customer-level amounts are not established in the cited materials. |
| Monetary fine | Sought or contemplated in the charges; no final amount is identified in the cited materials. |
| Revocation of Coinme’s Washington money-transmitter license | Proposed in the charges; the enforcement listing does not show a final revocation order in the cited record. |
| Ten-year industry prohibition for CEO and co-founder Neil Bergquist | Proposed for Washington money-transmitter and currency-exchange industries; not shown as a final adjudicated penalty in the cited materials. |
Why the December 23 consent order changed the immediate outcome
On December 23, 2025, DFI and Coinme entered a consent order that stayed the temporary cease-and-desist order. That meant Coinme could resume money transmission in Washington, subject to the agreement and continuing compliance duties.
The consent order required safeguards for Washington customer assets, including segregation of assets deposited at Washington kiosks but not redeemed. It also required Coinme to cease violations of the Uniform Money Services Act.
Most importantly, the consent order says it did not resolve the Statement of Charges. Coinme did not waive its claims, defenses or arguments, and the underlying factual and legal allegations remained subject to further proceedings, litigation or appeal. A consent order addressing an interim shutdown is therefore not the same as a final finding that all alleged violations occurred.
The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Best Value
- Dual-chip architecture for maximum protection: The next-gen, fully auditable TROPIC01 chip works alongside a certified EAL6+ Secure Element—completely NDA-free—to deliver radically transparent, industry-leading defense against physical attacks.
- Quantum-ready security: Get protection against future threats with the first-ever hardware wallet designed with quantum-ready architecture.
- See every detail with confidence: Our largest high-resolution color touchscreen makes it easy to navigate your assets, review transactions and manage your coins with clarity.
- Wireless freedom with encrypted Bluetooth control: Manage, buy, swap and stake securely using Trezor Suite on desktop or mobile. Qi2-compatible wireless charging keeps your Trezor powered up. No cables required—security meets convenience.
- Works seamlessly with Android, iOS and desktop: Connect wirelessly or via USB-C to your phone or computer. Manage your crypto anywhere with our companion Trezor Suite app.
Is Coinme still operating in Washington?
Based on the December 23 consent order, the temporary prohibition was stayed and Coinme was allowed to resume Washington operations under the agreement. Readers should not treat the December 1 announcement as the company’s permanent status. DFI’s enforcement index lists a Statement of Charges dated November 25, 2025, and a Coinme consent order dated December 23, 2025, but the cited materials do not establish a later final adjudication resolving the charges.
What affected customers should do
Preserve transaction evidence
- Keep kiosk receipts, voucher numbers, transaction IDs, emails, app records and screenshots.
- Record the date, kiosk location, amount and cryptocurrency involved if those details are available.
Use current official channels
Check Coinme’s current account and support channels to determine whether a voucher remains redeemable or whether a refund process applies. Do not rely on the inactive telephone number alleged in the DFI order.
Avoid refund scams
Do not send money, cryptocurrency, passwords or recovery phrases to anyone claiming to be a regulator or offering to “unlock” a refund. Government agencies and legitimate support personnel should not require an upfront payment to release customer funds.
Contact Washington DFI for regulatory information
Customers with unresolved complaints can consult DFI’s Consumer Services Division and the agency’s official enforcement materials. DFI states that it does not provide financial or legal advice. Anyone considering an individual claim should consult a qualified lawyer.
No cited order guarantees that every customer is automatically entitled to a particular payment. Eligibility and amounts depend on the operative requirements, Coinme’s remediation process and any later final order.
What remains unresolved
- Whether DFI will obtain a final license revocation, fine or restitution order.
- How many Washington customers were affected.
- What portion of the cited voucher-income figures related to Washington residents.
- How much, if any, was ultimately returned to customers or transferred through escheatment.
- Whether a later final order or appeal will resolve the Statement of Charges.
The available record supports a precise conclusion: Washington temporarily stopped Coinme from conducting new money-transmission business after alleging voucher, financial-condition, reporting and customer-support violations; the state later stayed that shutdown under a consent order with asset safeguards; and the underlying allegations were not finally decided by that consent order.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
