Fidelity pays $500,000 to California over crypto withdrawal limits

California Attorney General Rob Bonta announced on October 16, 2026, that Fidelity Digital Asset Services will pay $500,000 to settle state claims over past limits on cryptocurrency withdrawals. The settlement adds to California's ongoing regulatory scrutiny of digital asset platforms, following a prior $3.9 million penalty against Robinhood Crypto. While Fidelity currently allows daily withdrawals up to $25,000, California continues enforcing investor access rights under state financial protection laws.

Fidelity California settlement

• ▪Fidelity Digital Asset Services agreed to pay $500,000 to California to settle a case regarding past restrictions on customer cryptocurrency withdrawals.
• ▪California Attorney General Rob Bonta announced the $500,000 settlement with Fidelity Digital Asset Services on October 16, 2026.

Crypto withdrawal restrictions

• ▪Fidelity Crypto maintains a standard daily withdrawal limit of $2,000, with an optional advanced limit of up to $25,000 per day.
• ▪Fidelity Crypto supports transfers for Bitcoin, Ethereum, FIDD, Litecoin, and Solana, subject to individual state availability and account status restrictions.

Regulatory enforcement pattern

• ▪The Federal Trade Commission reached a proposed settlement with Celsius Network that stops the company and its affiliates from handling consumer assets.
• ▪In September 2024, California Attorney General Rob Bonta secured a $3.9 million settlement with Robinhood Crypto over crypto withdrawal restrictions imposed between 2018 and 2022.

California digital asset law

• ▪California's Digital Financial Assets Law establishes rules to protect state residents using digital asset services, with requirements tied to July 1, 2026.
• ▪New York's attorney general secured restrictions on KuCoin's services for existing customers in the state, limiting their account activity to withdrawals.