Regulatory Alerts2026-06-04
Added · Updated
Monthly Bulletin – June 2026
The California Department of Financial Protection and Innovation (DFPI) issued its June 2026 bulletin to enforce elder abuse prevention mandates for financial institutions, set a July 1 licensing deadline for digital asset providers, and establish strict escrow reporting compliance standards. Financial institutions must now implement dedicated monitoring procedures, train staff on recognizing exploitation, and file suspicious activity reports, while crypto exchanges and kiosks must secure DFAL licenses or pending applications to operate legally in the state. The bulletin also details recent enforcement actions, including the immediate shutdown of Hermes Bitcoin kiosks for anti-money laundering violations and a $1 million penalty against Yotta Technologies for falsely claiming FDIC insurance coverage.