Coinbase Fined Again in Ireland, This Time $3.6M Over Fund Safeguarding
Summary
The Central Bank of Ireland fined Coinbase Ireland €3.25 million for safeguarding and outsourcing breaches between November 2020 and August 2025. The regulator found the firm relied excessively on its U.S. parent, lacked sufficient local oversight, left its designated safeguarding account underfunded for extended periods, and had weak controls and reporting. Coinbase Ireland admitted the breaches; the fine requires High Court confirmation. This is the second Irish enforcement action against Coinbase’s European operations in less than a year, following a €21.5 million anti-money-laundering fine against Coinbase Europe in May.
