OLYMPIA, Wash. Washington financial regulators are moving to revoke the license of another cryptocurrency company operating a kiosk in Whatcom County, My Bellingham Now reported.
The Washington State Department of Financial Institutions announced Monday, Oct. 19, that it is seeking to revoke the license of Digital Access LLC.
The agency claims the company's crypto kiosks charged consumers markups of up to 31 percent over fair market value on each transaction between 2023 and 2025. The state is attempting to get Digital Access to refund consumers for the markups, which allegedly total more than $1 million.
DFI also accuses the company of insufficient transaction monitoring, failing to comply with reporting requirements and failing to properly protect elderly consumers, per the report.
Digital Access has 50 locations across Washington, including a kiosk on Main Street in Ferndale.
The action marks the fourth crypto company targeted by the state. My Bellingham Now previously reported that DFI sought fines against Coinme and Bitcoin Depot, which each operated at least a dozen crypto kiosks in Whatcom County, and the agency brought charges in September against CoinFlip, which has two Bitcoin ATMs in Bellingham.