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REGULATION · STORYCoinbase Ireland HitWith Fund Fine

Coinbase Ireland Fined €3.25 Million ($3.6 Million) Over Customer Fund Safeguarding Failures

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The Central Bank of Ireland has fined Coinbase Ireland €Coinbase Ireland Fined €3.25 Million Over Customer-Fund Failures.The Defiant · · read it at the source, equivalent to Coinbase Ireland fined $3.6 million over customer fund segregation, oversight failures.The Block · · read it at the source, over failures in how the exchange safeguarded and segregated customer funds, according to The Defiant and CoinDesk.

The Block reports the breaches left customer funds underfunded and mixed with Coinbase’s own group accounts rather than kept separately as required. The Defiant reports the safeguarding shortfall reached €The safeguarding shortfall reached €5.2 million in 2024.The Defiant · · read it at the source in 2024.

The Defiant reports the sanctions still need confirmation from Ireland’s High Court before they take effect.

Sources: The Defiant, The Block, CoinDesk

This article is for information only and is not financial advice.

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Story so far 2 updates

  1. digestCoinbase Ireland Fined €3.25 Million for Customer-Fund Segregation Failuresfirst reported · 2 sourcesthedefiant.io · theblock.co
  2. storyCoinbase Ireland Fined €3.25 Million ($3.6 Million) Over Customer Fund Safeguarding Failuresupdate · 3 sourcesthedefiant.io · theblock.co · coindesk.com
Tags: Coinbase, Regulation, Ireland, Central Bank of Ireland, Customer Funds

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