The Central Bank of Ireland announced a settlement with Coinbase (COIN) Europe Limited, Coinbase’s Irish affiliate that provided crypto services to European customers. “This settlement is a result of certain technical coding errors that impacted how we monitored crypto transactions in 2021 and 2022. As a starting point for their fine, CBI looked at our average annual revenue over 2021 to 2024 of EUR 417 million. As a result, in this settlement, CBEL will pay a fine of EUR 21.5 million,” Coinbase said in a statement. “Coinbase recognizes the importance of effective AML procedures and takes our obligations under AML legislation and regulatory guidance very seriously. Our goal has always been and will always be to build the most trusted, compliant, and secure platform in the world.”
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