Washington state seeks fine and industry ban against crypto ATM firm Coinflip

Washington state’s Department of Financial Institutions said it is seeking a $1.0296 million fine against crypto ATM operator Coinflip and CEO Benjamin Weiss, along with revocation of the company’s business license and a ban on industry activity. The agency said a 2025 examination found problems with Coinflip’s compliance and risk management systems, and noted that more than 50% of Coinflip users in Washington state were older adults, leaving them highly exposed to crypto ATM scams.