Connecticut suspends Bitcoin Depot as 2026 revenue outlook worsens
Connecticut halts Bitcoin Depot’s operations, with the company expecting lower revenue in 2026 amid mounting regulatory pressure and a steep decline in its stock price.
Bitcoin Depot, a publicly traded cryptocurrency ATM provider, is facing mounting regulatory pressure in the US amid a steep stock decline and a weak revenue outlook.
The Connecticut Banking Commissioner, through the Consumer Credit Division, issued a temporary cease-and-desist order against Bitcoin Depot on March 9, summarily suspending its money transmission license in the state.
The order cites multiple alleged violations of the Connecticut Money Transmission Act, including failure to maintain minimum net worth, excessive fees and incomplete refunds to consumers who fell victim to scams.
