The Central Bank of Ireland fined Coinbase Ireland Limited €3,252,618 on 22 October for contravening the Electronic Money Regulations 2011 between 1 November 2020 and 19 August 2025. The penalty was originally €4,646,597 before a standard 30% settlement discount; Coinbase Ireland admitted the contraventions and accepted a reprimand, with the sanctions taking effect once confirmed by the High Court. The regulator found the firm outsourced the critical safeguarding function to a US Coinbase Group company without sufficient Irish oversight or expertise, and that calculation errors in the systems used to size and rebalance safeguarding accounts left funds under-protected for at least 18 months — an average shortfall of 0.54% across 2023 and the first half of 2024, with maximum daily shortfalls of €3.4m in 2023 and €5.2m in 2024. It follows a €21.5m settlement with Coinbase Europe in November 2025 over anti-money-laundering monitoring failures.

• Source article