Coinbase Settles Irish Regulatory Investigation Over Past Customer Fund Governance

TL;DR Coinbase agreed to pay a €3.25 million fine in Ireland over historical deficiencies in its customer fund safeguarding practices. The investigation identified errors in safeguarding calculations, transfers between entities, and shortcomings in the oversight of outsourced operations. The company said no customers suffered financial losses or lost access to their funds, and that all the issues had been resolved. Coinbase Ireland Limited (CBIE) reached a settlement with the Central Bank of Ireland (CBI) to resolve an investigation into its customer fund safeguarding procedures . The settlement includes a €3.25 million fine for deficiencies in how funds deposited by European customers were managed and segregated.

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