Coinbase Ireland Agrees to $3.6 Million Settlement Pending Court Approval

Coinbase Ireland Limited admitted violations involving customer-fund safeguards and outsourcing and agreed to a $3.6 million settlement, pending approval by Ireland’s High Court. The Central Bank of Ireland (CBI) cited failures to safeguard customer funds and insufficient oversight of services outsourced to Coinbase’s U.S. parent. Coinbase began operating in Ireland in 2018 and received an electronic money license in 2019. It registered as a virtual asset service provider in 2022. Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

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