Coinbase Fined Again in Ireland, This Time $3.6M Over Fund Safeguarding

The Central Bank of Ireland, the country’s financial regulator, penalized Coinbase Ireland €3,252,618 for leaning too heavily on its U.S. parent and leaving its safeguarding account underfunded. Coinbase Ireland is the European arm of the cryptocurrency exchange Coinbase, and the penalty is the second hit to that arm in the last year. The regulator’s action concerns the underfunding of the safeguarding account and the Irish unit’s dependence on its American parent company.