Fidelity to pay $500K to California over crypto withdrawal limits
- —The settlement covers Fidelity Digital Asset Services, the crypto arm of Fidelity Investments
- —Standard daily withdrawal limit is $2,000; customers can request up to $25,000 per day
- —Supported assets include BTC, ETH, FIDD, LTC and SOL, subject to state availability
- —California reached a similar $3.9 million settlement with Robinhood Crypto in 2024
Why it matters: US regulators are tightening scrutiny of how platforms let customers access purchased assets, raising compliance bar for brokers and exchanges.
Source: The Crypto Times