Bulletin 3205 - July 25, 2025

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 3205 - Week Ending July 25, 2025

This Bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

CONSUMER CREDIT DIVISION ACTIVITY

Coinbase Custody Trust Company, LLC d/b/a Coinbase

On July 25, 2025, the Commissioner entered into a Consent Order (“Consent Order”) with Coinbase Custody Trust Company, LLC d/b/a Coinbase (“CCTC”), New York, New York. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that since at least 2019 CCTC engaged in the business of money transmission in this state without the required license, in violation of Section 36a-597(a) of the Connecticut General Statutes, in effect at such time. As part of the Consent Order, CCTC paid $30,000 as a civil penalty and $5,250 as back licensing fees.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Arcstone Securities LLC f/k/a Arcview Capital LLC (CRD No. 3006029)

On July 25, 2025, the Banking Commissioner entered an Order Revoking Registration as a Broker-dealer with respect to Arcstone Securities LLC (No. NRC-24-2048-S) of 885 Third Avenue, 21st Floor, New York, New York, 11232.

The firm had been the subject of an April 24, 2024 Notice of Intent to Revoke Registration as a Broker-dealer and Notice of Right to Hearing (NRC-24-2048-S) alleging that the Respondent violated Section 36b-31-6a(a) of the Regulations under the Connecticut Uniform Securities Act by failing to maintain a broker-dealer agent registration. The action further alleged that the Respondent failed to cure the problem following several requests from the Division.

The firm did not request a hearing on the Notice of Intent to Revoke Registration as a Broker-dealer. Consequently, the allegations in the original Notice were deemed admitted and the Order Revoking Registration as a Broker-dealer was entered by default.

Dated: Tuesday, July 29, 2025

Jorge L. Perez
Banking Commissioner