Washington DFI Enters Consent Order with Digital Assets-Focused Money Transmitter

On February 9, 2026, the Washington State Department of Financial Institutions (DFI) entered into a consent order with a digital assets-focused money transmitter requiring the company to cease and desist from violating Washington’s Uniform Money Services Act and to surrender its money transmitter license within 90 days. The order followed DFI’s investigation, which concluded the company allegedly engaged in unfair and deceptive practices and unsafe and unsound business conduct under state law.... By: Sheppard Mullin Richter & Hampton LLP