California's financial overseer inked a $300,000 settlement with bitcoin ATM operator Coinme this week, over charges the company failed to comply with the state's rules for operating the kiosks.
Why it matters: States have been cracking down on the machines (as we told you Tuesday), which give fraudsters an easy way to get paid by victims of cyber crime.
Follow the money: About a 1/6 of the fine will go to a victim who lost over $50,000. The rest will go to the state.
Details: Coinme was fined for failing to limit customers to $1,000 worth of transactions each day. It also did not include the name of the exchange used to determine its prices on the receipt, as the state's law requires.
Neither the agency nor the company replied to follow-up questions from Axios.
