Coinbase Ireland faces €3.25M penalty over cash safeguard gap, pending court approval
Coinbase Ireland's cash safeguards were €5 million short before a 2024 fix, according to a regulator. The regulator found no evidence of actual consumer harm, and a €3.25 million penalty has been accepted but still needs High Court confirmation. For traders, it shows how closely regulators are watching how crypto platforms protect customer funds.
Why it matters
- Customer cash safeguards were €5 million short before a 2024 fix.
- The regulator found no evidence of actual consumer harm.
- A €3.25 million penalty is accepted but still needs High Court confirmation.
What to watch next
Whether the High Court confirms the €3.25 million penalty against Coinbase Ireland.
