Fidelity California Settlement: Must Notify Before Discontinuing Retail Crypto Transfers, IRA External Transfers Not Required
22/10/2026, 18.30.02
Bollcoin reported on October 22, citing Crowdfund Insider, that the California Attorney General announced on October 16 a $500,000 settlement with Fidelity Digital Assets, resolving a dispute over its previous restrictions on transferring crypto assets out. Fidelity did not admit wrongdoing, and the payment covers investigation and other costs rather than serving as a customer compensation fund. The agreement provides that if Fidelity stops offering external wallet transfer functionality to ordinary retail customers in the future, it must give reasonable written notice to California customers, though it may still restrict individual transfers to protect platform or account security. The agreement also clarifies that it does not require tax-advantaged accounts subject to federal law, such as individual retirement accounts (IRAs), to offer external transfer functionality.