Final Order — Money Services Business

Index: OFR 2026 - 345
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
COIN LION, LLC, and
ERIC McDONALD,
Case Number: 136627
Respondents.
FINAL ORDER
This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:

1. The Office has jurisdiction over the subject matter of this case and the parties
   hereto.
2. The entry of this Final Order concludes the above-referenced matter.
   ORDERED:
   A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law. B. The parties shall comply with all terms of the Stipulation and Consent Agreement. DONE and ORDERED this I lj!t day of July, 2026, in Tallahassee, Leon County, Florida.

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been furnished by email to counsel for Respondents: John D. Socknat, Esquire, at socknatj@ballardspahr.com on this ~ ay of July, 2026. 2 Win~ .. ffl:al Regulation ox 8050 ee, FL 32314-8050 Email: Agency.Clerk@flofr.gov Tel: (850) 410-9889

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
COIN LION, LLC, and
ERIC McDONALD,
Respondents.
Exhibit A
Case Number: 13'627
STIPULATION AND CONSENT AGREEMENT
The State of Florida, Office of Financial Regulation ("Office,,), and COIN LION, LLC, and ERIC McDONALD ("Respondents"), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:

1. Bae round. At all times material hereto, COIN LION, LLC, is and has been a
   Part II Money Services Business in the State of Florida, having been issued license number
   FT230000375. At all times material hereto, ERIC McDONALD is and has been an affiliated party and control person in that he is and has been the Chief Executive Officer and President, has had a controlling interest in COIN LION, LLC, and has had active management authority over the business decisions, actions, and activities of COIN LION, LLC. In lieu of initiating a fonnal proceeding, the parties are herein resolving the matters at issue.
2. Jurisdiction. The Office is the state agency charged with the administration and
   enforcement of chapter 560, Florida Statutes, and the rules promulgated thereunder. The Office has jurisdiction to bring this administrative action against Respondents pursuant to chapter 560, Florida Statutes.
3. Findings. For purposes of this Stipulation and Consent Agreement, Respondents
   consent to the Office making the following findings:

a) On April 17. 2025, Respondents' license (license no. FT23000037S) was revoked for failure to tile an annual Financial Audit Report for the year ending on December 31, 2023. b) On August 4, 2025, COIN LION, LLC, re•applied for a Part II money services business license to transact business as a money transmitter ( cryptocurrency exchange) pursuant to chapter 560, Florida Statutes. c) On August 5, 2025, a deficiency letter was issued asking COIN LION, LLC, about unlicensed activity during the time its license was revoked. d) Respondents admitted that for a period of 108 days, from April 18, 2025, to August 4, 2025, Respondents continued conducting business as a money transmitter after their money services business license was revoked. e) From April 18, 2025, to August 4, 2025, Respondents received currency or monetary value for the purpose of acting as an intermediary to transmit currency from one person to another location for compensation. As such, Respondents engaged during that time in the activity of a money transmitter, pursuant to section S60.103(24), Florida Statutes, and, thus, a money services business pursuant to section 560.103(23), Florida Statutes. f) For a period of 108 days, from April 18, 2025, to August 4, 2025, Respondents engaged in the business of a money services business and conducted eleven transactions, totaling $8,289.00, during that time, in violation of section 560.12S(l ), Florida Statutes.
4. Terms and Conditions. The parties agree that the issues raised can be
expeditiously resolved without further litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, terms, duties, and responsibilities with respect to its contents.

Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation, Respondents agree to the following tenns and conditions:
a. FUTURE COMPLIANCE. Respondents agree to comply with all provisions of
chapter 560, Florida Statutes, and the rules promulgated pursuant thereto.
b. ADMINISTRATIVE FINE. Respondents agree to pay the Office an adm~istrative fine in the amount of Three Thousand Five--Hundred Dollars ($3,580.00), to be paid at the time of the execution and delivery of this Stipulation and Consent Agreement. The administrative fine shall be submitted in the fonn of a wire, cashier's check or money order made payable to "Office of Financial Regulation/' Such payment shall reference Case No. 136627 and shall be sent to the attention of Agency Clerk - c/o Damaris E. Reynolds, Post Office Box 8050, Tallahassee, Florida 32314-80S0. Respondents acknowledge and agree that in accordance with section 215.31, Florida Statutes, regarding the deposit of monies, (i) the tendered fine or settlement check may be deposited in advance of full execution or acceptance of the Stipulation and Consent Agreement; and (ii) such deposit shall not be construed as a final acceptance of the Stipulation and Consent Agreement absent full execution thereof and entry of a Final Order adopting same.
5. Final Order. Respondents consent to the entry of a Final Order, which incorporates
the terms of this Stipulation and Consent AgreemenL Respondents understand and agree that this Stipulation and Consent Agreement is subject to the final approval of the Office of Financial Regulation and the entry of the Final Order adopting such Agreement. In the event that the Final Order is not entered, this Stipulation and Consent Agreement shall be mill and void. The Final Order incorporating this Stipulation and Consent Agreentent constitutes final action by the Office

for which the Office may seek enforcement pursuant to the provisions of chapters 560 and 120, Florida Statutes.
6. Waiver. By Respondents' consent to the entry of a Fina] Order with respect to this
proceeding, Respondents waive:
7. a) Any right to separately stated Findings of Fact and Conclusions of Law; b) Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes; c) Any right to an administrative hearing or issuance of a Recommended Order pursuant to chapter 120, Florida Statutes; and d) Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida Statutes) the validity of any tenn, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order. Releases. Upon full execution of this Stipulation and Consent Agreement, Respondents waive, release, and forever discharge the Office and its agents, representatives, and employees from any and all causes of action, in law or in equity, which Respondents may have arising out of this matter. The Office accepts this release and waiver by Respondents on behalf of itself, its agents, representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.
8. Failure to Comply. Respondents acknowledge, concur, and stipulate that
Respondents' failure to comply with any of the terms, obligations, and conditions of this Stipulation and Consent Agreement, and the Final Order adopting it, is a violation of the written agreement and the Final Order entered pursuant to chapters 120 and 560, Florida Statutes. Such non-compliance may result in the issuance of an emergency cease and desist order. However,

nothing herein shall be construed to limit Respondents' right to contest any finding or determination of non-compliance.
9. Attorney's Fees. Each party herein shall be solely responsible for its separate costs
and attorney's fees incurred in the prosecution, defense, or negotiations in this matter up to and including the entry of the Final Order adopting this Stipulation and Consent Agreement.
10. Severabilin•. The parties agree that if any provision of this Stipulation and Consent
Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given effect without the invalid provision, and to this end, the provisions of this Stipulation and Consent Agreement are declared severable.
11. Counterparts. This Stipulation and Consent Agreement may be executed in any
number of counterparts, and by the parties in separate counterparts, each of which will be deemed to be an original but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.
12. Entire Agreement. This Stipulation and Consent Agreement represents the entire
agreement by and between Respondents and the Office. Any alterations, variations, changes, modifications, or waivers of the provisions hereof shall be valid only when they have been reduced to writing, duly signed by the Office and Respondents hereto, attached to the original of this Stipulation and Consent Agreement, and subject to the approval of the Office. WHEREFORE, in consideration of the foregoing, the Office and Respondents execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below.

ERIC MeDONALD:
(Signature)
Name: Eric McDonald
State of South Dalcota
County of MiMebaha
Date: June 23, 2026
Eric McDonald, BEFORE ME by means of~ physical presence or D online notarization, has sworn ( or affirmed) that he has read and 1D1derstands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this~ day of JIM'-t.. Check the appropriate box:
Personally known i,1.
OR Produced Identification D
Type of identification produced D Driver's License 0 Passport D Other ____ _ (Do not include ID number) , 2026.

COIN LION, LLC:
(Signature)
Name: Eric McDonald
State of: South Dakota
County of: Minnehaha
Date: June l 0, 2026
Title: Chief Executive Officer and President.
Eric McDonald, as Chief Executive Officer, Responsible Person, and President of Coin Lion, LLC, BEFORE ME by means of p(physical presence or D online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. Check the appropriate box:
Personally known E]
OR Produced Identification D
Type of identification produced 0
□
□
Driver's License
Passport
Other ------- (Do not include ID number)
OFFICE OF FINANCIAL REGULATION
~~£:W Date: -----
7/10/2026
Division of Consumer Finance