Washington DFI Enters Consent Order With Digital Assets-Focused Money Transmitter

On February 9, 2026, the Washington State Department of Financial Institutions (DFI) entered into a consent order with a digital assets-focused money transmitter requiring the company to cease and desist from violating Washington's Uniform Money Services Act and to surrender its money transmitter license within 90 days. The order followed DFI's investigation, which concluded the company allegedly engaged in unfair and deceptive practices and unsafe and unsound business conduct under state law.

According to the order, the DFI determined that the money transmitter failed to maintain required tangible net worth, kept inaccurate financial records, filed late adverse event reports, and failed to make required regulatory filings. As part of the consent order, the company must provide written notice to affected Washington consumers, offer instructions for customers to withdraw their funds, and remit any unclaimed funds to the state's Unclaimed Property Program.