The Central Bank takes enforcement action against Coinbase Ireland

Central Bank of Ireland has fined Coinbase Ireland Limited €3,252,618 for breaching its safeguarding and outsourcing obligations under the Electronic Money Regulations 2011 (the EMR 2011) between 01 November 2020 and 19 August 2025. Today’s announcement follows the settlement reached between the Central Bank and Coinbase Ireland on 21 October 2026. Coinbase Ireland is an e-money institution and is part of the global Coinbase Group, which operates one of the world’s largest crypto asset-trading platforms which allows for the buying, selling, transferring, and storing of crypto assets. As an e-money institution Coinbase Ireland issues and redeems e-money in exchange for fiat currency. Customers use the e-money Coinbase Ireland has issued to buy crypto assets on Coinbase Group’s online trading platform. Coinbase Ireland is subject to the safeguarding and outsourcing requirements set out in the EMR 2011 (as amended). These requirements are fundamental to the protection of customer funds and to maintaining public confidence in the financial system. Coinbase Ireland did not meet these requirements in the following respects: a.Coinbase Ireland failed to have in place an adequate outsourci

Plan Gratis · Plus 29 CA$ o Pro 99 CA$/mes