Irish Central Bank Fines Coinbase Ireland $3.6M Over Safeguarding Failures
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Coinbase Ireland received a $3.6 million fine from Ireland's central bank over fund safeguarding failures, CoinDesk reported.
Ireland's central bank has fined Coinbase Ireland $3.6 million for failures related to safeguarding funds, according to CoinDesk.
The report described a change to customer deposit instructions in 2023, as Silvergate approached collapse.
Coinbase directed 30 customers to send their deposits to a different account. That account was held by Coinbase at another bank in the United States.
Source: CoinDesk
