Central Bank of Ireland Fines Coinbase Unit €3.25 Million Over Customer Fund Safeguarding Failures
5 outlets · first seen 5d ago · latest 4d ago
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Bitcoin Magazinefirst seen
Central Bank of Ireland Fines Coinbase Unit €3.25 Million Over Customer Fund Safeguarding Failures
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,…
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CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Irish central bank fines Coinbase Ireland $3.6 million over fund safeguarding failures
When Silvergate was on the verge of collapse in 2023, Coinbase instructed 30 customers to deposit funds into an alternate account held by Coinbase at another U.S. bank.
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Cointelegraph.com News
Irish cenbank fines Coinbase arm $3.6M for oversight, safeguard failures
According to the Central Bank of Ireland, Coinbase Ireland had agreed with the facts around the enforcement action and will be subject to fines and sanctions upon approval by a high court.
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Decrypt
Coinbase Fined Again in Ireland, This Time $3.6M Over Fund Safeguarding
The Central Bank of Ireland penalized Coinbase Ireland €3,252,618 for leaning too heavily on its U.S. parent and leaving its safeguarding account underfunded—its second hit to the exchange’s European arm in the last year.
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CryptoSlate
Coinbase Ireland’s cash safeguards fell €5 million short before 2024 fix
The regulator found no evidence of actual consumer harm, while an accepted €3.25 million penalty still needs High Court confirmation. Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox