Connecticut regulators expanded their case against Bitcoin Depot, citing money transmission violations beyond fee limits, while the company said it expects core business revenue to decline 30% to 40% in 2026.
Connecticut regulators temporarily suspended Bitcoin Depot’s money transmission license after alleging multiple violations, including more than 1,000 transactions above the state’s 15% fee cap, failures to meet net worth requirements, and incomplete refunds to fraud victims. The state previously said the fee violations affected more than 500 consumers and added about $150,000 in costs. Bitcoin Depot was ordered to stop operating in Connecticut and shut down its kiosks in the state. Separately, the company said it expects core business revenue to fall 30% to 40% in 2026 and has also disclosed an unremediated material weakness in internal controls.