Coinme has operated in Washington State since 2014. They are a licensed monetary services business (MSB) with FinCEN (US federal regulator), and the Washington State Department of Financial Institutions (DFI). They have been the only operator able to acquire a license to operate in Washington state, who is second only to New York in being very strict with cryptocurrency regulations. They are using Perkins Coie as their primary counsel (one of the few legal teams with deep ICO experience) and working with IdentityMind Global (who works with Coinbase, Polymath and others).
The potential of Coinme being a scam is non-existent. They are still a startup that could fail, but a scam they are not.
UpToken Global Ltd. subsidiary in the Cayman is a consequence of using top legal and accounting professionals familiar with complying with US law with regards to Token Sales. You don't front more than a half million dollars in legal and professional fees to run a project that is not serious.
I don't wish to say anything bad about other ATM projects, I would like to see people succeed. However, not getting competent legal advice is a disaster waiting to happen, so I do hope they realize the consequences of issuing a security in the United States, including obligations to register that security as a public security with the SEC in order to allow for secondary market trading and to allow for more than 2000 shareholders of record (Section 12(g) limitation). Regulation A+ would be much more appropriate than Regulation D.
If anyone has questions about the project, I am available.