Arkansas Joins $2.5 Million Settlement with Crypto Kiosk Operator

Arkansas Joins $2.5 Million Settlement with Crypto Kiosk Operator

LITTLE ROCK, Ark. (Oct. 8, 2026) - The Arkansas Securities Department and 33 other state financial regulatory agencies have reached a $2.5 million settlement with Coinme Inc. (NMLS ID 1185542), a Seattle-based cryptocurrency money transmitter and kiosk operator, for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.

Under the terms of the settlement, Coinme has agreed to terminate its virtual currency kiosk operations by Jan. 1, 2027, or face an additional $4 million penalty. The settlement amount will be allocated among participating states based on transaction volume. Arkansas will receive $48,977.93.

In addition, Coinme has agreed to hire an independent consultant to review the comprehensiveness and effectiveness of its BSA/AML program and submit a report to the states within six months. Coinme will have 12 months to correct any deficiencies found in the review after the report is filed.

"It is essential that Arkansas-licensed nonbank financial institutions maintain strong supervisory programs to ensure compliance," said Securities Commissioner Susannah T. Marshall. "This coordinated action by state regulators reinforces that BSA/AML compliance is critical and must remain a top industry priority."

Arkansas residents who have questions about the enforcement action should contact the Arkansas Securities Department at 800-981-4429 or via the website at www.securities.arkansas.gov. Residents can also visit NMLS Consumer Access to verify that a company is licensed to do business in Arkansas, and they may also view past enforcement actions.

Alaska, Arkansas, Georgia, Illinois, North Carolina, Ohio, and Washington led the enforcement effort.

To protect consumers and enforce safety and soundness requirements, state regulators regularly coordinate supervision of multistate firms and, when necessary, initiate enforcement actions. This networked coordination supports consistency and collaboration, while preserving the authority of individual states to take direct action.

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Contact: Clark Cogbill, [email protected]

About the Arkansas Securities Department
The Arkansas Securities Department provides responsible oversight of securities and financial industries in Arkansas while simultaneously working to protect consumers and educate investors. In this capacity, the Department regulates a variety of financial services, products, and professionals. Established in 1959, the Department's statutory duties have evolved over the years. Today, the Department is responsible for oversight of the securities industry, non-depository mortgage lending industry, money services industry, state-chartered credit union industry, and state-chartered savings and loan industry in Arkansas.

About the Arkansas Department of Commerce The mission of the Arkansas Department of Commerce is to champion the economic health of every Arkansas citizen and business. Its divisions and regulatory boards include the Waterways Commission, Economic Development Commission, Division of Aeronautics, Workforce Connections, Division of Reemployment, State Bank Department, Insurance Department, Securities Department, and Development Finance Authority.