The "Commodity Sales Act" slapped onto the crypto world, adding a new tool to the regulatory toolbox

CoinWorld News reports that Missouri Attorney General Catherine Hanaway announced the formal lawsuit against the parent company of cryptocurrency ATM operator Coinflip, GPD Holdings, accusing it of "deliberately facilitating fraudulent transactions and profiting from them." The lawsuit is a response to the state's efforts to address online scams targeting seniors and veterans. The Missouri Attorney General's Office requests the court to rule that Coinflip's actions violate the Missouri Merchandising Practices Act, prohibit it from operating in Missouri, and impose civil fines of $1,000 for each violation over the past five years (up to a maximum of $1,826,000), as well as provide compensation to consumers.