Coinbase Fined Again in Ireland, This Time $3.6M Over Fund Safeguarding
Summary
Regulators in Ireland have penalized the crypto exchange Coinbase over compliance issues related to how it protects customer assets. The central bank found that the firm relied excessively on its American parent company, resulting in an underfunded safeguarding account. This marks the second financial penalty issued against the European division within a twelve-month period.
The Central Bank of Ireland penalized Coinbase Ireland €3,252,618 for leaning too heavily on its U.S. parent and leaving its safeguarding account underfunded—its second hit to the exchange’s European arm in the last year.
Source: Read the full story at Decrypt
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