A cryptocurrency company headquartered in metro Atlanta has surrendered its Georgia money transmitter license after filing for Chapter 11 bankruptcy protection, leaving customers with pending transactions or unclaimed funds facing deadlines to pursue reimbursement.
The Georgia Department of Banking and Finance announced Monday that Bitcoin Depot Operating, LLC voluntarily surrendered its Georgia money transmitter license under the terms of a consent order with the department. The company held Georgia Money Transmitter License No. 1886902 and operated from its headquarters in Sandy Springs.
According to the department, Bitcoin Depot filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas on or about May 18, 2026. Around the same time, the company took its nationwide network of virtual currency kiosks offline.
Money transmitter licenses are required for companies that receive money or monetary value from one person and transmit it to another. In the cryptocurrency industry, these licenses typically cover businesses operating Bitcoin ATMs and other virtual currency kiosks that allow customers to buy or sell digital assets using cash.
Bitcoin Depot had grown into one of the country’s largest operators of cryptocurrency kiosks, with machines placed in convenience stores, gas stations, and retail locations throughout Georgia and across the United States. The kiosks allowed customers to purchase cryptocurrencies, including Bitcoin, using cash, often serving individuals without traditional cryptocurrency exchange accounts.
The company’s bankruptcy filing has created uncertainty for customers who may have initiated transactions that were never completed or who are owed refunds or other funds.
The Department of Banking and Finance is advising Georgia residents who believe Bitcoin Depot owes them money to consider filing a proof of claim in the bankruptcy proceedings. The current deadline to submit a proof of claim is July 21, 2026, although the bankruptcy court could modify that date.
Customers may also have another potential avenue for recovery through the company’s surety bond. Under Georgia law, licensed money transmitters are required to maintain surety bonds to help protect consumers against certain losses arising from the company’s money transmission activities.
The department said Georgia residents seeking payment for outstanding money transmission liabilities may contact the surety, American Alternative Insurance Corporation, to inquire about filing a claim against Bitcoin Depot’s bond. The Department of Banking and Finance emphasized that it does not administer the bond claim process.
State law also allows the department to make a licensee’s surety bond available to the public. As part of Monday’s announcement, the agency released a copy of Bitcoin Depot’s surety bond associated with its Georgia money transmitter license.
The department cautioned that it cannot provide legal advice and encouraged consumers seeking guidance about their rights or available remedies to consult with a private attorney.
The surrender of the license formally ends Bitcoin Depot’s authority to conduct licensed money transmission business in Georgia while its bankruptcy proceedings continue.
