Central Bank of Ireland penalizes Coinbase Ireland for violations including customer funds safeguarding

AI-assisted source synthesis · not an independent investigation.

On October 22, 2026, CoinDesk reported that the Central Bank of Ireland fined Coinbase Ireland $3.6 million for funds-safeguarding violations and linked the background of the incident to the fund arrangements when Silvergate was on the verge of collapse in 2023: Coinbase had instructed 30 customers to deposit funds into a reserve account it held at another U.S. bank. On October 23, Cryptopolitan reported that Coinbase’s Irish electronic-money subsidiary was fined €3,252,618 for failing to properly safeguard customer funds, with the period of noncompliance running from November 1, 2020, to August 19, 2025. Fintech News Switzerland subsequently reported that the sanctioned entity was Coinbase Ireland Limited, with the same fine of €3,252,618, and that it was censured; the violations also involved outsourced responsibilities, overreliance on the U.S. parent company, insufficient long-term funds in safeguarding accounts, and a lack of checks on change reporting. Earlier reports stated that the fine was $3.6 million, while subsequent reports stated that it was €3,252,618. The parties reached a settlement on October 21, 2026, and the sanctions will take effect after confirmation by the High Court.

AI-written from reports · updated 4 hours ago

1. Oct 23 03:00 · 2 reports
   Coinbase's Irish entity fined for failing to safeguard customer funds
   Cryptopolitan：Central Bank of Ireland fines Coinbase’s Irish e-money subsidiary €3,252,618 over deficiencies in safeguarding customer funds
2. Oct 22 23:40 · 1 reports
   Central Bank of Ireland fines Coinbase 3.6 million
   CoinDesk：Central Bank of Ireland fines Coinbase Ireland $3.6 million for safeguarding violations