Atlanta, Georgia – On October 19, 2023, Orders to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Unbanked, Inc. d/b/a unbanked.com (“Unbanked”), located at 3010 Haven Reserve, Milton, GA 30004, and its co-CEOs, Daniel Gouldman and Ian Kane, became final.
The Orders to Cease and Desist were issued by the Department after it obtained evidence that Unbanked, while under the control of Daniel Gouldman and Ian Kane, engaged in money transmission without a valid license or under an applicable exemption in violation of O.C.G.A. § 7-1-681.
Pursuant to O.C.G.A. § 7-1-681(b), Georgia law prohibits any person from transmitting money or monetary value, including virtual currency, within the United States or to locations abroad by any and all means without having first obtained a money transmitter license or pursuant to an exemption from licensure under O.C.G.A. § 7-1-682.
Pursuant to O.C.G.A. § 7-1-681(c), Georgia law also prohibits any person from directly or indirectly controlling another person that engages in money transmission without a money transmitter license or pursuant to an exemption from licensure, and such person is in violation of Georgia law to the same extent as the person controlled.
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: [email protected]