Central Bank fines crypto firm €21.3m for anti-money laundering rule breaches – The Irish Times
The Central Bank of Ireland has fined Coinbase Europe €21.3 million after finding that the crypto asset and wallet services provider failed to properly monitor more than 30 million transactions for money laundering or terrorist financing over the course of a year.
It marks the fourth-biggest financial penalty ever imposed by the Irish financial regulator and comes less than three years after Coinbase Europe was authorised by the authority. It is the first sanction levelled against a player in the crypto sector by the Central Bank.
Coinbase Europe’s parent, Coinbase Group, is the largest cryptocurrency exchange in the US and the world’s biggest custodian of Bitcoin. The parent group is led by chief executive and co-founder Brian…
