Key Notes

The Central Bank of Ireland has levied Coinbase Europe with a fine of $24.7 million.

The exchange failed to appropriately monitor money laundering and terrorist financing.

Coinbase has demonstrated its commitment to regulatory compliance.

The Central Bank of Ireland (CBI) has asked Coinbase Europe Limited (CBEL) to pay a fine of nearly €21.5 million, equivalent to $24.7 million. This is for failing in its obligations to monitor money laundering and terrorist financing. Per an official statement from the cryptocurrency exchange, the settlement concerns coding errors that affected transaction monitoring in 2021 and 2022.

Coinbase Fails in Duty as European VASP

Coinbase announced that it has agreed to a $24.7 million settlement with the Central Bank of Ireland. This is a pen

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