Irish Central Bank Fines Coinbase Europe Approximately 3.6 Billion Yen for Failing to Monitor Over 30 Million Transactions

On the 6th, the Central Bank of Ireland announced that it had imposed a fine of 21.46 million euros (approximately 3.6 billion yen) on Coinbase Europe Limited for failing to comply with anti-money laundering and counter-terrorist financing transaction monitoring obligations. The violation period spans approximately four years, from April 2021 to March 2025.

Due to a configuration error in Coinbase Europe's transaction monitoring system, over 30 million transactions, totaling 176 billion euros (equivalent to 31 trillion yen), were not properly monitored over a 12-month period. This accounted for about 31% of the company's total transactions during the same period. It took the company about three years to complete the monitoring of the affected transactions...