The Central Bank of Ireland fined Coinbase Ireland €3.25 million for breaches of safeguarding and outsourcing obligations. These breaches occurred between November 2020 and August 2025.
The regulator found the firm excessively relied on its U.S. parent company. It also failed to adequately protect customer funds. Additionally, it had insufficient internal governance.
These failures resulted in the commingling of customer funds. They also led to the underfunding of its safeguarding account for an extended period.
Coinbase received a 30% discount for settling. The company admitted to the findings. It also self-reported several issues.
Coinbase stated no customers lost money. The company also stated it has since remediated the underlying control issues.