Bitcoin Depot Operating LLC; Brandon Taylor Mintz - Statement of Charges - C-25-4080-26-SC01

Consumer Services Division Case Number C-25-4080 Statements of Charges allege wrongdoing by a company or individual. DFI issues Statements of Charges to tell the company or individual: • They have been investigated • DFI is making allegations against them • What the allegations are • What consequences could follow DFI informs the company or individual of their rights at this time. The company or individual can respond to the Charges. They also have the right to contest the Charges at an administrative hearing. Name(s) Bitcoin Depot Operating LLC NMLS #1886902 Brandon Taylor Mintz NMLS #2000578 Number C-25-4080-26-SC01 Date issued 6/8/2026 Questions? You can contact the Consumer Services Division, Enforcement unit at (360) 902-8703 or csenforcecomplaints@dfi.wa.gov. Please remember that we cannot provide financial or legal advice to members of the public. We also cannot release confidential information. Last updated 06/08/2026 1 STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS 2 DIVISION OF CONSUMER SERVICES IN THE MATTER OF DETERMINING No.: C-25-4080-26-SC01 3 Whether there has been a violation of the Uniform Money Services Act of Washington by: STATEMENT OF CHARGES and 4 NOTICE OF INTENT TO ENTER BITCOIN DEPOT OPERATING LLC, AN ORDER TO REVOKE LICENSE, 5 NMLS #1886902, and PROHIBIT FROM INDUSTRY, IMPOSE FINE, COLLECT INVESTIGATION FEE, and 6 BRANDON TAYLOR MINTZ, RECOVER COSTS AND EXPENSES NMLS #2000578, 7 Respondents. 8 INTRODUCTION 9 Pursuant to RCW 19.230.130 and RCW 19.230.310, the Director of the Department of 10 Financial Institutions of the State of Washington (Director) is responsible for the administration of 11 chapter 19.230 RCW, the Uniform Money Services Act (Act). After having conducted an investigation 12 pursuant to RCW 19.230.130 and WAC 208-690-180, and based upon the facts available as of the date 13 of this Statement of Charges, the Director, through his designee, Consumer Services Division Director 14 Ali Higgs, institutes this proceeding and finds as follows: 15 I. FACTUAL ALLEGATIONS 16 1.1 Respondents. 17 A. Bitcoin Depot Operating LLC (Respondent Bitcoin Depot) holds a license issued on or 18 about June 30, 2021, by the Department of Financial Institutions of the State of Washington 19 (Department) to conduct the business of a money transmitter. The license was initially issued to Lux 20 Vending LLC d/b/a Bitcoin Depot, which merged into the newly formed Bitcoin Depot LLC in June 21 2023. Respondent Bitcoin Deport continues to be licensed to date. On or about May 17, 2026, 22 Respondent Bitcoin Depot filed a voluntary petition for relief under chapter 11 of the United States 23 Code in the Unites States Bankruptcy Court for the Southern District of Texas. 24 STATEMENT OF CHARGES 1 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 B. Brandon Taylor Mintz (Respondent Mintz) has been the Responsible Individual of 2 Respondent Bitcoin Depot, or its predecessor Lux Vending LLC, from about December 2020 through 3 June 2026. 4 1.2 Overview of Respondents’ Business Practices. Respondent Bitcoin Depot operates kiosks that 5 sell virtual currencies to customers at a markup. The company has charged its customers up to 42% more 6 than market price of virtual currencies. As a result, customers receive much less Bitcoin (BTC) than the 7 fair market value, or the amount which may be expected by a consumer relative to the amount tendered. 8 For example, a consumer who purchased $1,000 worth of BTC from Respondent Bitcoin Depot would 9 only receive approximately $580 (58%) in BTC at fair market value of their transaction. Additionally, 10 Respondent Bitcoin Depot’s kiosks are a known mechanism for facilitating illicit transactions. 11 1.3 2023 Examination. In 2023, the Department conducted an examination of Respondent Bitcoin 12 Depot, which was then operating as Lux Vending LLC. As a result of the 2023 Examination, the 13 Department identified several deficiencies and violations of the Act, including failing to maintain 14 sufficient tangible net worth, failing to file accurate annual reports and assessments, failing to timely 15 report bank account changes, providing customers with inadequate receipts, and having a deficient 16 information security program. 17 1.4 2025 Examination. In 2025, the Department conducted an examination of Respondent Bitcoin 18 Depot. The 2025 Examination scope included a review of Respondent Bitcoin Depot’s business 19 practices for the period from January 1, 2023, through December 31, 2024 (the “relevant period”). As a 20 result of the 2025 Examination, the Department identified several deficiencies and violations of the Act, 21 including those identified below. 22 1.5 Failed to Meet Examination Responsibilities. During the 2025 Examination, Respondent 23 Bitcoin Depot did not timely provide multiple documents or details requested by the examination team. 24 STATEMENT OF CHARGES 2 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 There were 26 examination request items pending for 8 to 52 days before Respondent Bitcoin Depot 2 provided a response. 3 1.6 Inadequate Anti-Money Laundering Program. During the relevant period, Respondent 4 Bitcoin Depot did not establish adequate policies, procedures, and internal controls to comply with Anti- 5 Money Laundering (AML) and Bank Secrecy Act (BSA) requirements. These deficiencies created an 6 environment of non-compliance with AML/BSA laws, including: 7 A. Insufficient Transaction Monitoring. Respondent Bitcoin Depot conducted minimal 8 monitoring and reviews of consumers’ transactions conducted via Respondent Bitcoin Depot’s Over The 9 Counter platform and the BDCheckout application. While money transmitters are required to actively 10 monitor transactions, most of Respondent Bitcoin Depot’s transaction monitoring was reactive: (1) 11 Respondent Bitcoin Depot performed transaction monitoring manually after a currency transaction 12 report was filed or an enhanced due diligence threshold was met; and (2) Respondent Bitcoin Depot filed 13 60 percent of its suspicious activity reports on first-time users, which indicates a lack of active 14 monitoring to prevent potential illicit transactions from occurring. The majority of the fraud victims who 15 used Respondent Bitcoin Depot’s ATM were over 60 years-old; however, Respondent Bitcoin Depot 16 had no monitoring rules based on age. In fact, the monitoring rules used by the company were basic and 17 did not include items such as age, users sending to multiple wallets, or multiple velocity indicators. 18 Respondent Bitcoin Depot also had gaps in its monitoring program related to risk ratings and identifying 19 duplicate customer information entered by different individuals. 20 B. Insufficient Know Your Customer Policy. During the relevant period, Respondent 21 Bitcoin Depot changed its Know Your Customer (KYC) practices, including changing transaction limits 22 for KYC tiers multiple times, without updating its KYC policy to conform with those changes. 23 Additionally, Respondent Bitcoin Depot’s KYC policy referenced a Customer Identification Program for 24 approved types of government identification, but the program did not exist. Further, Respondent Bitcoin STATEMENT OF CHARGES 3 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 Depot did not have an adequate customer verification system in place, as multiple underage users were 2 allowed to create accounts and conduct transactions during the relevant period. 3 C. Insufficient Enhanced Due Diligence Policy. Respondent Bitcoin Depot’s Enhanced 4 Due Diligence (EDD) policy was inadequate to protect Respondent Bitcoin Depot or its customers 5 against illicit activity as it set high lifetime thresholds before EDD was conducted. For example, 6 Respondent Bitcoin Depot would not conduct EDD for some customers until they inserted over 7 $100,000 in cash into a kiosk. Also, the EDD policy did not align correctly with Respondent Bitcoin 8 Depot’s KYC policy tiers. 9 1.7 Failed to Timely and Accurately File Currency Transaction Reports. During the relevant 10 period, Respondent Bitcoin Depot untimely filed at least 25 currency transaction reports (CTRs), and 11 filed at least three incomplete and inaccurate CTRs. Additionally, Respondent Bitcoin Depot did not file 12 CTRs for multiple transactions that required CTRs, or Respondent Bitcoin Depot provided the 13 Department with insufficient information to reconcile those transactions, or some combination thereof. 14 1.8 Delinquent Registration of a Money Services Business Renewal. During the relevant period, 15 Respondent Bitcoin Depot did not file its MSB renewal with FinCEN. Respondent Bitcoin Depot 16 initially registered as an MSB with FinCEN on July 28, 2023. Based on this initial registration date, 17 Respondent Bitcoin Depot was required to file a renewal by December 31, 2024; however, it did not file 18 a renewal by the due date. 19 1.9 Inadequate Funds Transfer Recordkeeping. During the relevant period, Respondent Bitcoin 20 Depot did not obtain and retain a record of all customer information required by law, such as the 21 sender’s social security number and driver’s license number, with respect to every transmittal of funds of 22 $3,000 or more. 23 24 STATEMENT OF CHARGES 4 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 1.10 Failed to Maintain Required Tangible Net Worth. During the relevant period, Respondent 2 Bitcoin Depot did not at all times maintain tangible net worth equal to or greater than $10,000 for every 3 $1 million in total company-wide transmission. 4 1.11 Failed to Maintain Adequate Surety Bond. During the relevant period, Respondent Bitcoin 5 Depot did not at all times maintain a surety bond equal to or greater than $10,000 for every $1 million of 6 the previous 12 months’ transmission dollar volume. 7 1.12 Failed to Timely Report Material Changes. During the relevant period, Respondent Bitcoin 8 Depot did not timely (within 30 days) report material changes through the NMLS1 including changes in 9 officers, bank accounts, kiosk locations, and BDCheckout retail locations, and a data breach. 10 1.13 Unauthorized Agent Relationship. During the relevant period, Respondent Bitcoin Depot 11 failed to establish and maintain an authorized delegate relationship for its BDCheckout product and 12 services. Additionally, Respondent Bitcoin Depot did not maintain agent governance policies and 13 procedures, or an agent file to ensure this relationship complies with the Act. 14 1.14 Failed to Report Adverse Action. During the relevant period, Respondent Bitcoin Depot did 15 not timely report an adverse action to the Department through the NMLS. On January 13, 2023, 16 Canaccord Genuity Corp. commenced legal proceedings against Respondent Bitcoin Depot for an 17 alleged breach of contract, which was not disclosed to the Department until April 7, 2025. 18 1.15 Failed to Timely and Accurately File Annual Assessment Reports. During the relevant 19 period, Respondent Bitcoin Depot did not timely file its Annual Assessment Reports (AARs). The due 20 date for the AAR is July 1, or the next business day if July 1 is not a business day. The 2022 AAR was 21 filed eight days late on July 11, 2023. The 2023 AAR was filed two days late on July 3, 2024. 22 23 1 The Nationwide Multistate Licensing System & Registry is a multistate licensing system developed and maintained by 24 the Conference of State Bank Supervisors for licensing and registration. STATEMENT OF CHARGES 5 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 Additionally, the 2023 AAR underreported state-wide volume by about $972,362. The incorrect 2 reporting resulted in underpayment of the annual assessment fee. 3 1.16 Failed to File Accurate Money Services Business Call Reports. During the relevant period, 4 Respondent Bitcoin Depot did not file accurate NMLS Money Services Business Call Reports 5 (MSBCRs). The 2022 MSBCRs were underreported by about $5,181,772. The 2024 MSBCRs were 6 underreported by about $6,459,349. Additionally, Respondent Bitcoin Depot failed to complete Section 7 III: Permissible Investment Report of the MSBCRs for the second quarter of 2023 through the fourth 8 quarter of 2024, reporting zero permissible investment, zero outstanding transmission liability, and zero 9 average daily transmission liability. 10 1.17 Failed to Maintain Monthly Permissible Investment Reports. During the relevant period, 11 Respondent Bitcoin Depot did not prepare and maintain all the required monthly permissible investment 12 reports. 13 1.18 Failed to Provide Required Virtual Currency Disclosures. During the relevant period, 14 Respondent Bitcoin Depot did not provide all of the required disclosures for over 30,000 virtual 15 currency transactions as required by the Act (these include: (a) A schedule of all fees and charges the 16 company may assess on a transaction, how the fees and charges will be calculated if not set in advance 17 and disclosed, and the timing of the fees and charges; (b) Whether the product or service provided is 18 insured or guaranteed by an agency of the United States, such as the federal deposit insurance 19 corporation or the securities investor protection corporation or by private insurance against theft or loss, 20 including cyber theft or theft by other means; (c) A notice that the transfer of virtual currency or digital 21 units is irrevocable and any exception to the irrevocability of transfer; (d) A notice describing the 22 company’s liability for unauthorized, mistaken, or accidental transfers and, describing the consumer’s 23 responsibility for providing notice of such mistake to the company, and the general error-resolution 24 rights applicable to any transaction; and (e) A disclosure prior to the transaction that informs the STATEMENT OF CHARGES 6 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 consumer that the nature of virtual currency may lead to an increased risk of fraud or cyber attack and 2 the consumer’s virtual currency value may be irretrievably stolen.). 3 1.19 Ongoing Investigation. The Department’s investigation of the alleged violations of the Act 4 by Respondents continues to date. 5 II. GROUNDS FOR ENTRY OF ORDER 6 2.1 Prohibited Practices. Based on the Factual Allegations set forth in Section I above, 7 Respondents are in apparent violation of RCW 19.230.340 for: directly or indirectly employing any 8 scheme, device, or artifice to defraud or mislead any person; directly or indirectly engaging in any 9 unfair or deceptive act or practice toward any person; directly or indirectly obtaining property by 10 fraud or misrepresentation; knowingly making, publishing, or disseminating any false, deceptive, or 11 misleading information in the provision of money services; making or concurring in making any false 12 entry, or omitting or concurring in omitting any material entry, in the books or accounts of the 13 business; knowingly making or publishing to the director or director’s designee, or concurring in 14 making or publishing to the director or director's designee any written report, exhibit, or statement of 15 their affairs or pecuniary condition containing any material statement which is false, or omitting or 16 concurring in omitting any statement required by law to be contained therein; and failing to make any 17 report or statement lawfully required by the director or other public official. 18 2.2 Requirement to Comply with Examination Requests. Based on the Factual Allegations set 19 forth in Section I above, Respondents are in apparent violation of RCW 19.230.130(1) for not 20 producing to the Department or providing the Department with free access to all records and 21 information upon request. 22 2.3 Inadequate Anti-Money Laundering Program. Based on the Factual Allegations set forth in 23 Section I above, Respondents are in apparent violation of RCW 19.230.180, WAC 208-690-210, and 24 STATEMENT OF CHARGES 7 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 31 C.F.R. § 1022.210 for not developing, implementing, and maintaining an effective anti-money 2 laundering program. 3 2.4 Requirement to Timely and Accurately File Currency Transaction Reports. Based on the 4 Factual Allegations set forth in Section I above, Respondents are in apparent violation of RCW 5 19.230.180, WAC 208-690-210, 31 C.F.R. § 1010.306(a)(1), (d) and 31 C.F.R. § 1010.311 for not 6 timely or accurately filing currency transaction reports. 7 2.5 Requirement to Renew Money Services Business Registration. Based on the Factual 8 Allegations set forth in Section I above, Respondents are in apparent violation of WAC 208-690-210 9 and 31 C.F.R. § 1022.380(b)(2) for not timely renewing Respondent Bitcoin Depot’s Money Services 10 Business Registration with FinCEN. 11 2.6 Requirement to Obtain and Retain Funds Transfer Records. Based on the Factual 12 Allegations set forth in Section I above, Respondents are in apparent violation of RCW 19.230.170, 13 WAC 208-690-075, WAC 208-690-210, and 31 C.F.R. § 1010.410(e)-(f) for not obtaining, retaining, 14 and remitting a record of all customer information required with respect to a transmittal of funds of 15 $3,000 or more. 16 2.7 Requirement to Maintain Tangible Net Worth. Based on the Factual Allegations set forth 17 in Section I above, Respondents are in apparent violation of RCW 19.230.060 and WAC 208-690- 18 060 for failing to maintain a tangible net worth in an amount determined by the Director. 19 2.8 Requirement to Maintain Surety Bond. Based on the Factual Allegations set forth in 20 Section I above, Respondents are in apparent violation of RCW 19.230.050 and WAC 208-690-040 21 for failing to maintain a surety bond in an amount determined by the Director. 22 2.9 Requirement to Timely Report Material Changes. Based on the Factual Allegations set 23 forth in Section I above, Respondents are in apparent violation of RCW 19.230.150(1)-(2), WAC 24 STATEMENT OF CHARGES 8 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 208-690-110(2), (7), and (11), and WAC 208-690-120(2) for failing to report material changes within 2 30 days. 3 2.10 Requirement to Properly Establish Authorized Agents. Based on the Factual Allegations 4 set forth in Section I above, Respondents are in apparent violation of RCW 19.230.120 and WAC 5 208-690-035 for not maintaining authorized agent governance policies and procedures, or an 6 authorized agent file, and for not obtaining approval from the Department for conducting business 7 from certain locations or for allowing authorized delegates to use subdelegates. 8 2.11 Requirement to Timely Report Significant Event. Based on the Factual Allegations set 9 forth in Section I above, Respondents are in apparent violation of RCW 19.230.150(3) and WAC 10 208-690-112 for failing to report a significant event within one business day. 11 2.12 Requirement to Timely and Accurately File Annual Assessment Report and Pay Annual 12 Assessment. Based on the Factual Allegations set forth in Section I above, Respondents are in 13 apparent violation of RCW 19.230.110(1) and (2), WAC 208-690-090, and WAC 208-690-100 for 14 failing to timely and accurately file annual reports and for underpaying an annual assessment. 15 2.13 Requirement to Accurately File Money Services Business Call Reports. Based on the 16 Factual Allegations set forth in Section I above, Respondents are in apparent violation of RCW 17 19.230.152 and WAC 208-690-105 for not accurately and completely filing money services business 18 call reports. 19 2.14 Requirement to Maintain Permissible Investment Reports. Based on the Factual 20 Allegations set forth in Section I above, Respondents are in apparent violation of RCW 21 19.230.170(1)(c) and WAC 208-690-085 for failing to maintain permissible investment reports. 22 2.15 Requirement to Provide Virtual Currency Disclosures. Based on the Factual Allegations 23 set forth in Section I above, Respondents are in apparent violation of RCW 19.230.370 and WAC 24 208-690-205(3) for not providing required virtual currency disclosures to its customers. STATEMENT OF CHARGES 9 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 III. AUTHORITY TO IMPOSE SANCTIONS 2 3.1 Liability for Conduct of Others. Pursuant to RCW 19.230.280, a licensee is liable for any 3 conduct violating the Act or rules adopted under the Act committed by employees of the licensee. 4 The responsible individual is responsible under the license and may be subjected to administrative 5 sanctions for any violations of the Act or rules adopted under the Act committed by the licensee. 6 3.2 Authority to Suspend, Revoke, or Condition License. Pursuant to RCW 19.230.230(1), the 7 Director may issue an order to suspend, revoke, or condition a license if the licensee: violates the Act; 8 engages in an unsafe or unsound practice, or an unfair and deceptive act or practice; or is insolvent, 9 fails to maintain the required net worth, suspends payment of its obligations, or makes a general 10 assignment for the benefit of its creditors. 11 3.3 Authority to Remove from Office or Prohibit from Industry. Pursuant to RCW 12 19.230.230(1), the director may issue an order to remove from office or prohibit from participation in 13 the affairs of any authorized delegate or any licensee, or both, any responsible individual, executive 14 officer, person in control, or employee of the licensee, if the licensee: violates the Act; engages in an 15 unsafe or unsound practice, or an unfair and deceptive act or practice; or is insolvent, fails to maintain 16 the required net worth, suspends payment of its obligations, or makes a general assignment for the 17 benefit of its creditors. 18 3.4 Authority to Impose Fine and Costs. Pursuant to RCW 19.230.290, the Director may assess 19 a civil penalty against a licensee, responsible individual, or other person that violates the Act or an 20 order issued under the Act, in an amount not to exceed $100 per day for each day the violation is 21 outstanding, plus this state’s costs and expenses for the investigation and prosecution of the matter, 22 including reasonable attorneys’ fees. 23 24 STATEMENT OF CHARGES 10 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 3.5 Authority to Collect Investigation Fee. Pursuant to RCW 19.230.130(2), RCW 19.230.290, 2 RCW 19.230.320(1)(c) and (2), WAC 208-690-170, and WAC 208-690-180(3), the Department may 3 collect the costs of investigations. The fee will be calculated at the rate of $75 per hour. 4 IV. NOTICE OF INTENT TO ENTER ORDER 5 Respondents’ violations of the provisions of chapter 19.230 RCW and chapter 208-690 WAC, as 6 set forth in the above Factual Allegations, Grounds for Entry of Order, and Authority to Impose 7 Sanctions, constitute a basis for the entry of an Order under RCW 19.230.230, RCW 19.230.240, RCW 8 19.230.250, and RCW 19.230.340. Therefore, it is the Director’s intent to ORDER that: 9 4.1 Respondent Bitcoin Depot Operating LLC’s money transmitter license be revoked; 10 4.2 Respondents Bitcoin Depot Operating LLC and Brandon Taylor Mintz prohibited from participation in the conduct of the affairs of any money transmitter subject to licensing by 11 the Department, or any authorized delegate, or both, for a period of ten years; 12 4.3 Respondent Brandon Taylor Mintz pay a fine which as of the date of these charges totals $1,500,000; 13 4.4 Respondent Brandon Taylor Mintz pay an investigation fee which as of the date of these 14 charges totals $4,425; 15 4.5 Respondent Bitcoin Depot Operating LLC maintain records in compliance with the Act and provide the Department with the location of the books, records and other information 16 relating to its money transmitter business, and the name, address, email address, and telephone number of the individual responsible for maintenance of such records in 17 compliance with the Act; and 18 4.6 Respondent Brandon Taylor Mintz pay the costs and expenses for prosecution of this matter in an amount to be determined at hearing or by declaration. 19 // 20 // 21 // 22 // 23 // 24 // STATEMENT OF CHARGES 11 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703 1 V. AUTHORITY AND PROCEDURE 2 This Statement of Charges and Notice of Intent to Enter an Order to Revoke License, Prohibit 3 from Industry, Impose Fine, Collect Investigation Fee, and Recover Costs and Expenses (Statement of 4 Charges) is entered pursuant to the provisions of RCW 19.230.220 and RCW 19.230.310, and is 5 subject to the provisions of chapter 34.05 RCW (the Administrative Procedure Act). Respondents 6 may make a written request for a hearing as set forth in the NOTICE OF OPPORTUNITY TO 7 DEFEND AND OPPORTUNITY FOR HEARING accompanying this Statement of Charges 8 Dated this 8th day of June, 2026. 9 /s/ 10 _______________________________ ALI HIGGS, Director 11 Division of Consumer Services Department of Financial Institutions 12 Presented by: 13 /s/ ___________________________________ 14 DREW STILLMAN Financial Legal Examiner Supervisor 15 16 Approved by: 17 /s/ ___________________________________ 18 KENDALL FREED Enforcement Chief 19 20 21 22 23 24 STATEMENT OF CHARGES 12 DEPARTMENT OF FINANCIAL INSTITUTIONS C-25-4080-26-SC01 Division of Consumer Services BITCOIN DEPOT OPERATING LLC and BRANDON P.O. Box 41200 TAYLOR MINTZ Olympia, WA 98504-1200 (360) 902-8703