The California Department of Financial Protection and Innovation penalized Coinme for allowing transactions beyond the 1,000 USD daily limit and missing required receipt information. They must pay 300,000 USD in total penalties and restitution, enforce compliance measures, and submit reports every 60 days.
Ripple’s Chief Legal Officer discussed the recent court ruling affirming XRP’s status as not a security. The judge rejected the SEC’s proposed changes, maintaining a 125 million USD penalty against Ripple, reinforcing the significance of the ongoing litigation for digital asset regulations.
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