Irish cenbank fines Coinbase arm $3.6M for oversight, safeguard failures

The Central Bank of Ireland has imposed a $3.6 million fine on Coinbase Ireland due to oversight and safeguard failures. According to the regulator, Coinbase Ireland has agreed with the facts surrounding the enforcement action.

Regulatory Action

The enforcement action will subject Coinbase Ireland to fines and sanctions once approved by a high court. The penalty highlights increasing regulatory scrutiny on cryptocurrency exchanges operating in Europe.