Regulatory Alerts2023-10-13
Added · Updated
Consent Order Regarding LSGT Services LLC d/b/a Coinhub
LSGT Services LLC must cease unlicensed money transmission activities in Connecticut and pay $3,000 in back licensing fees and a $50,000 civil penalty to the State of Connecticut. The entity is required to provide restitution to identified consumers within fifteen days and establish a $50,000 trust fund to cover scam-related losses for six months. Failure to cash restitution checks within ninety days converts the amount into an additional civil penalty, and LSGT must remain unlicensed in the state until proper authorization is obtained.
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