Irish cenbank fines Coinbase arm $3.6M for oversight, safeguard failures
Summary
The Central Bank of Ireland announced a $3.6 million settlement with Coinbase Ireland over failures from 2020 to 2025 involving oversight and protection of customer funds. The company admitted the violations and agreed to the facts, including improperly relying on Coinbase’s US entity for outsourced services. The regulator said firms operating in Ireland must safeguard customers and manage outsourcing risks. The sanctions require approval from Ireland’s High Court before taking effect. Coinbase began operating in Ireland in 2018 and later received an e-money license and virtual-asset-service-provider registration.
