Coinbase’s Irish Unit Fined €3.25 Million Over Customer Fund Safeguarding Failures
Photo: TheCoinrise
The penalty marks the second time Irish regulators have sanctioned the exchange's local entity for failing to properly protect client assets. Coinbase's Irish subsidiary has been fined €3.25 million, roughly $3 million, over failures in safeguarding customer funds. The penalty was reported by UNLOCK Blockchain and BitKE, both of which described the action as the second regulatory sanction against the entity. Ireland serves as a key European base for several major crypto exchanges, including Coinbase, which holds licenses there to serve customers across the European Union.
Source: TheCoinrise
