PANews reported on November 6th that, according to its official blog, Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding coding errors that affected transaction monitoring in 2021 and 2022. The settlement stemmed from certain technical coding errors that occurred during Coinbase's monitoring of cryptocurrency transactions in 2021 and 2022. The CBI used Coinbase's average annual revenue of €417 million from 2021 to 2024 as a benchmark for calculating the fine, ultimately resulting in Coinbase paying a fine of €21.5 million in this settlement.PANews reported on November 6th that, according to its official blog, Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding coding errors that affected transaction monitoring in 2021 and 2022. The settlement stemmed from certain technical coding errors that occurred during Coinbase's monitoring of cryptocurrency transactions in 2021 and 2022. The CBI used Coinbase's average annual revenue of €417 million from 2021 to 2024 as a benchmark for calculating the fine, ultimately resulting in Coinbase paying a fine of €21.5 million in this settlement.
Coinbase has reached a settlement with the Central Bank of Ireland to resolve past errors in transaction monitoring, and will pay a fine of €21.5 million.
PANews reported on November 6th that, according to its official blog, Coinbase Europe Limited has reached a settlement with the Central Bank of Ireland (CBI) regarding coding errors that affected transaction monitoring in 2021 and 2022. The settlement stemmed from certain technical coding errors that occurred during Coinbase's monitoring of cryptocurrency transactions in 2021 and 2022. The CBI used Coinbase's average annual revenue of €417 million from 2021 to 2024 as a benchmark for calculating the fine, ultimately resulting in Coinbase paying a fine of €21.5 million in this settlement.
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