(WKYT) – Gov. Andy Beshear announced Wednesday that Kentucky has joined 33 other states in a $2.5 million settlement with Coin-Me, a cryptocurrency money transmitter and kiosk operator.
Kentucky’s share of the settlement is just under $63,000.
The company is accused of violating anti-money laundering and bank secrecy laws.
The laws are designed to stop criminals from moving money.
Under the settlement, Coin-Me must hire an independent consultant to fix its compliance program.
The company also must shut down its virtual currency kiosks by Jan. 1 or face another $4 million in penalties.
