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Coinbase Settles with the Central Bank of Ireland, Will Pay a €21.5 Million Fine
BlockBeats News, November 6th, According to official sources, Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding a coding error that impacted transaction monitoring in 2021 and 2022. This settlement stems from certain technical coding errors that Coinbase experienced during the monitoring of cryptocurrency transactions in 2021 and 2022. CBI used Coinbase's annual revenue of 417 million euros for the years 2021 to 2024 as the basis for calculating the fine, and ultimately, Coinbase is required to pay a fine of 21.5 million euros in this settlement.
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