The Central Bank of Ireland imposed a €3.25 million fine on the Irish subsidiary of Coinbase on October 22, 2026. The penalty follows violations of safeguarding and outsourcing regulations established under the Electronic Money Regulations 2011.
The initial fine was set at €4.65 million, but Coinbase received a 30% discount after admitting to the breaches. The company reported that no customers experienced financial losses or restricted access to their funds during the period.
Regulators identified three primary failures: inadequate supervision of outsourced safeguarding functions, the commingling of customer funds with other assets, and persistent daily shortfalls in the designated safeguarding account.
These shortfalls persisted for over a year, with the maximum deficit reaching €3.4 million in 2023 and €5.2 million in 2024. This marks the second major regulatory action against the company in Ireland, following a €21.5 million fine in November 2025.
