Irish Central Bank fines Coinbase unit €3.25 million for safeguarding and outsourcing breaches

The Central Bank of Ireland has fined Coinbase's Irish unit €3.25 million ($3.65 million) for failing to comply with safeguarding and outsourcing obligations between 2020 and 2025. The regulator emphasized the fundamental obligation of payment and e-money firms to protect customer funds, stating it has 'no tolerance for weaknesses in safeguarding arrangements.' Coinbase stated it self-reported the issues and no customers suffered financial loss.