Ireland Slaps Coinbase With Fresh Fine Over Client Asset Controls

Ireland’s Central Bank has settled with Coinbase for €3.25 million after originally proposing a €4.6 million penalty. The 30 % reduction came after the exchange showed willingness to cooperate, with the deal finalized on October 21.

The watchdog found that the Irish entity leaned too heavily on its U.S. parent for safeguarding customer funds and meeting EU rules. Local staff lacked the expertise needed to oversee asset protection independently.

The problems surfaced during the 2023 U.S. banking turmoil, when Coinbase Ireland urged clients to move money to the American arm. That step, while aimed at safety, caused client assets to be commingled improperly. The company says it has since tightened processes and brought in more specialists.

This marks the second penalty from the same regulator. In November 2025 Coinbase paid €21.5 million for failing to monitor suspicious transactions between 2021 and 2025.

Based on information from cryptonews.net