The Central Bank of Ireland has imposed a €3.25 million penalty on Coinbase Ireland for breaching customer fund safeguarding and outsourcing rules under the Electronic Money Regulations. The fine was cut from €4.65 million after a 30% settlement discount and still needs High Court confirmation.

From March 2023 to October 2024, around 30 institutional clients deposited dollars into accounts held by Coinbase Inc. instead of the Irish entity. Funds from customers migrating from Coinbase UK stayed in that entity's safeguarding account until August 19, 2025.

Daily safeguarding shortfalls reached €5.2 million ($5.8 million) in 2024.

The regulator said the unit could not calculate how much it had to safeguard each day, which could have left customers unable to recover funds promptly in an insolvency. Coinbase admitted the breaches and accepted a reprimand. In November 2025, Coinbase Europe was separately fined €21.5 million over transaction monitoring failures.