Central Bank of Ireland Fines Coinbase Ireland $3.6M for Fund Safeguarding Breaches

The Central Bank of Ireland fined Coinbase Ireland €3,252,618 (about $3.6 million) for breaching safeguarding and outsourcing rules between November 2020 and August 2025. The regulator found that Coinbase relied too heavily on its U.S. parent for compliance, lacked local oversight expertise, and allowed its designated safeguarding account to be underfunded for lengthy periods. Coinbase admitted the breaches, and this is the second enforcement action against the exchange’s European operations in less than a year, following a €21.5 million fine against Coinbase Europe in May.