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. Read more
A UK parliamentary committee urged an immediate moratorium on crypto political donations until stronger safeguards are in place. A cross-party parliamentary committee in the United Kingdom has urged the government to impose an immediate moratorium on cryptocurrency donations to political parties until stronger safeguards are in place. In a report published on Wednesday, the Joint Committee on the National Security Strategy said the government should amend the Representation of the People Bill to impose an “immediate moratorium on crypto donations” until the Electoral Commission produces statutory guidance ahead of the next general election, due by August 2029. The committee also called for the creation of a Political Finance Enforcement Unit to oversee these activities and reduce the minimum threshold for declaring political donations from 11,180 British pounds ($14,900) to 500 pounds ($668), and proposed increasing the maximum custodial sentences to three years for wrongdoing involving foreign financing. Rea...