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Crypto kiosk operator CoinFlip runs afoul of Texas regulator
March 11, 2026
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ClaudeThe Texas Department of Banking has issued a consent order against Chicago-based cryptocurrency kiosk operator GPD Holdings LLC, doing business as CoinFlip, after determining the company conducted unlicensed money transmission involving cryptocurrency with customers in Texas. The company had already been ordered in July 2023 to stop engaging in those activities after previously operating cryptocurrency kiosks in the state without the required license.
Under the consent order, CoinFlip must pay the state more than $40,000, and is prohibited from conducting further transactions until it obtains the proper license. The order does not prevent the company from applying for and obtaining a license in the future.
Although CoinFlip had applied for a money transmission license in May 2024, the department discovered additional violations involving an affiliated company with which CoinFlip had merged. The affiliate had been selling cryptocurrency online without authorization, effectively continuing unlicensed money transmission activities in the state.
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