Coinhub

Trust Rating

Grade: B (70/100 points). Three-state consent-order pattern; $675K California finding with elder-harm

Coinhub's rating reflects a now-visible pattern of state enforcement against LSGT Services LLC. In October 2025, the California Department of Financial Protection and Innovation (DFPI) imposed a $675,000 administrative penalty plus $105,000 in consumer restitution under the Digital Financial Assets Law — citing violations of the $1,000 daily transaction cap, the 15% fee ceiling, and pre-transaction disclosure requirements. The DFPI finding specifically noted transactions exceeding $10,000 (ten times the daily limit) conducted for customers over 60 years of age, referencing FinCEN guidance that elderly consumers are disproportionately targeted by Bitcoin ATM scams. That action follows earlier consent orders from Connecticut (2023) and Minnesota (May 2025), both related to money transmission. With three state enforcement actions in three years — and with LSGT having acquired Cash2Bitcoin in late 2025 (itself carrying three resolved consent orders under its prior operator) — LSGT now runs the larger of the multi-brand Bitcoin ATM portfolios in the U.S. The B rating reflects a persistent inability to operate within state kiosk statutes, partially offset by cooperative resolution of each matter and six years of operating history.

Fees

Fee data not yet available.

Key Facts

• Founded: Unknown
• Locations: 1,932 across 28 states
• Transaction types: Buy only
• Phone: 1-877-264-6482
• Email: support@coinhubatm.com

Enforcement & Regulatory History

Order - Consent (NMLS Docket: None). Connecticut Department of Banking consent order regarding money transmission activities under NMLS #2344713. (resolved); Order - Consent (NMLS Docket: 91320/JPH). Minnesota Department of Commerce consent order against LSGT Services LLC (dba Coinhub) under NMLS #2344713. Details from full final order pending retrieval; consent order appears on NMLS Consumer Access with docket 91320/JPH, signed 2025-05-02. (resolved); California DFPI Consent Order against LSGT Services, LLC dba Coinhub, signed October 22, 2025 by Logan Short (President & CEO). Four findings of violation of the Digital Financial Assets Law (DFAL) and California Consumer Financial Protection Law (CCFPL): (1) DFAL § 3902 — accepted more than $1,000/day from the same customer on multiple occasions since January 1, 2024, with transactions exceeding $10,000 (10x the limit) conducted for customers over 60 years of age (attributed to software error, since corrected); (2) DFAL § 3904 — charged customers more than the allowable 15% fee cap for a period after January 1, 2025; (3) DFAL § 3905(a) — failed to provide complete pre-transaction disclosures; (4) DFAL § 3905(b)(3) and (8) — receipts missing operator name and digital asset exchange used to calculate spread. Administrative penalty of $675,000 plus $105,000 consumer restitution (credited against penalty). Includes Desist and Refrain Order under Fin. Code § 90015(d)(1). One-year compliance monitoring (60-day reports to DFPI). (resolved); California DFPI consent-order finding that Coinhub accepted more than $10,000 per day (10x the statutory $1,000 daily limit) from customers over 60 years of age on multiple occasions since January 1, 2024 — referencing FinCEN guidance that elderly consumers are disproportionately targeted by crypto kiosk scams. Commissioner concluded Coinhub engaged in unlawful acts under Cal. Fin. Code § 90003(a)(1) (CCFPL) and violated DFAL § 3902 (daily limit), § 3904 (fee cap), and § 3905 (disclosure requirements). Coinhub attributed the limit breach to 'software error' since corrected. (resolved).