The regulatory力度 of cryptocurrency asset service providers in US states continues to intensify. The Georgia Department of Banking and Finance recently issued a cease and desist order to Crypto Dispensers LLC, which operates virtual asset ATMs, demanding that they immediately cease related business operations.

These ATM services operate in a gray area in the US, involving the exchange and withdrawal of crypto assets. The regulatory intervention indicates that states are strengthening control over such unlicensed financial services. Industry insiders point out that this reflects increasingly strict requirements from US regulators for licensed operations of crypto asset service providers. Without the appropriate financial licenses and compliance frameworks, it is difficult to continue operating through formal channels.

Notably, this is not an isolated incident. Since last year, financial regulatory departments in multiple states have stepped up efforts to regulate similar services. What does this mean for the entire industry? First, compliance costs are rising; second, the space for unlicensed operations is shrinking. For crypto service providers aiming to establish a presence in the US, obtaining the relevant state licenses has become an inevitable choice.