{"id":57181,"date":"2025-11-07T02:46:44","date_gmt":"2025-11-07T02:46:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=57181"},"modified":"2025-11-07T02:46:44","modified_gmt":"2025-11-07T02:46:44","slug":"coinbase-europe-fined-e21m-by-ireland-over-missed-transactions","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=57181","title":{"rendered":"Coinbase Europe Fined \u20ac21M by Ireland Over Missed Transactions"},"content":{"rendered":"
\n

The Central Bank of Ireland has fined Coinbase Europe Limited a total of \u20ac21,464,734 for failing to meet its obligations under anti-money laundering and counter-terrorist financing rules. <\/span>The issues occurred between April 2021 and March 2025 and involved significant gaps in the company\u2019s monitoring of<\/span>\u00a0transactions flowing through its platform.<\/span> This enforcement marks the first action taken against a crypto firm under Ireland\u2019s updated sanctions procedure.<\/span><\/p>\n

Millions of Transactions Went Unchecked<\/span><\/h3>\n

According to the Central Bank, Coinbase Europe failed to properly monitor more than 30 million transactions during the period in question. <\/span>These transactions totaled over \u20ac176 billion<\/span>.<\/span> Around 31 percent of Coinbase Europe\u2019s entire transaction volume during that time escaped appropriate oversight. <\/span><\/p>\n

\"Coinbase
Source: Shutterstock<\/figcaption><\/figure>\n

Once the problem was identified, a back review<\/span> led to 2,708 suspicious transaction reports being filed with Irish authorities. These reports flagged potential links to money laundering, fraud,\u00a0<\/span>and<\/span> child sexual exploitation.<\/span><\/p>\n

Why the Final Fine Was Lower Than Expected<\/span><\/h3>\n

The Central Bank initially calculated the penalty at over \u20ac30 million. <\/span>However, Coinbase accepted the findings and entered into a settlement<\/span>, <\/span>which gave<\/span> the <\/span>company a<\/span> 30 percent <\/span>reduction in the fine<\/span>.<\/span> That brought the total to just under \u20ac21.5 million. This kind of discount is allowed under Ireland\u2019s enforcement framework when a company fully cooperates and agrees to resolve the matter without legal challenge.<\/span><\/p>\n

DISCOVER: Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n

Coinbase Blames Coding Errors for the Failure<\/span><\/h3>\n

Coinbase Europe responded <\/span>by saying<\/span> the monitoring failures were the result of three separate coding <\/span>mistakes<\/span> in its screening system.<\/span> One of those bugs involved the platform mishandling special characters <\/span>like<\/span> the ampersand in wallet addresses, which caused some transactions to be missed.<\/span><\/p>\n

\n
\n
\n
\n\t\t\t\t<\/p>\n
<\/div>\n
<\/div>\n<\/p><\/div>\n
\n
<\/div>\n
<\/div>\n<\/p><\/div>\n
\n
Market Cap<\/div>\n
<\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n
\n\t\t\t\t