Bitcoin Magazine Central Bank of Ireland Fines Coinbase Unit €3.25 Million Over Customer Fund Safeguarding Failures
The Central Bank of Ireland has fined Coinbase Ireland Limited €3.25 million ($3.65 million) for failing to safeguard customer funds and for leaning on its US parent to run compliance functions it was supposed to control itself.
The regulator announced the penalty on Thursday, one day after it reached a settlement with the Coinbase subsidiary.
The breaches ran from November 2020 to August 2025 under Ireland’s Electronic Money Regulations. Coinbase Ireland, an e-money institution, issues the euro and dollar balances European customers use to buy bitcoin and other crypto assets on the Coinbase platform.
The law requires those balances to sit in dedicated safeguarding accounts, walled off from corporate money and from customers of other Coinbase entities.
Coinbase’s three failures
Source: Bitcoin Magazine
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