Coinbase fined €21.4m in Ireland for transaction monitoring faults and late SARs

Coinbase Europe, wholly owned by Coinbase Global, Inc, the world's third largest cryptocurrency exchange by volume, has been censured and ordered to pay a civil monetary penalty of €21,464,734 (US$24,830,190) by the Central Bank of Ireland (CBOI) for flaws in transaction monitoring and delayed filing of suspicious transaction reports (STRs) dealing with trading on the darknet, in illegal narcotics, malware, ransomware, child sexual abuse material, money laundering, scams and potential breaches of US sanctions. The misconduct occurred between 23 April 2021 and 19 March 2025.

Coinbase Europe, wholly owned by Coinbase Global, Inc, the world's third largest cryptocurrency exchange by volume, has been censured and ordered to pay a civil monetary penalty of €21,464,734 (US$24,830,190) by the Central Bank of Ireland (CBOI) for flaws in transaction monitoring and delayed filing of suspicious transaction reports (STRs) dealing with trading on the darknet, in illegal narcotics, malware, ransomware, child sexual abuse material, money laundering, scams and potential breaches of US sanctions. The misconduct occurred between 23 April 2021 and 19 March 2025.