On February 24, the Texas Department of Banking issued a consent order against a virtual currency kiosk and website operator after determining the company conducted unlicensed money transmission involving stablecoins with customers in the state. According to the consent order, the operator had previously been ordered on July 19, 2023, to cease such activity after engaging in transactions through virtual currency kiosks without a license. Despite applying for a money transmission license in May 2024, the Banking department later discovered that an unlicensed affiliate, which had merged into the operator in October 2024, had been selling stablecoins through its online trading platform without authorization. The department concluded that, through this conduct, the operator violated Section 152.101 by conducting money transmission without a license, without being an authorized delegate of a license holder, and without any exemption. The consent order requires the operator to pay $40,839.75 within 30 days of its effective date and prohibits further unlicensed money transmission until a license is obtained. The agreement does not prevent the operator from securing a money transmission license in the future.