Coinbase Faces €24.7M Fine in Ireland Over Compliance Lapses

Coinbase Europe has agreed to a €24.7 million ($24.7 million) settlement with the Central Bank of Ireland following significant failures in its transaction monitoring systems. Announced on November 6, 2025, this enforcement action is the first of its kind against a cryptocurrency firm in Ireland and ranks among the regulator's largest penalties. The case highlights systemic compliance gaps, including inadequate oversight of over 30 million transactions, underscoring growing regulatory scrutiny on crypto exchanges. Despite the setback, this development signals maturation in crypto regulation, potentially fostering long-term institutional trust in digital assets.

Coinbase Settles $24.7M Fine with Ireland Over Transaction Monitoring Failures

Coinbase Europe has agreed to pay a €24.7 million ($24.7 million) fine to the Central Bank of Ireland after admitting to significant lapses in its transaction monitoring systems. The penalty, announced on November 6, 2025, marks Ireland's first enforcement action against a cryptocurrency firm and ranks among the regulator's largest sanctions.

The settlement reveals systemic compliance failures: over 30 million transactions worth €176 billion ($202 billion) went unmonitored during a 12-month period, representing nearly a third of Coinbase's European activity. Technical flaws in the company's Transaction Monitoring System (TMS) caused five of 21 critical surveillance scenarios to malfunction, allowing potential money laundering and terrorist financing risks to slip through undetected.

Regulators noted Coinbase received a 30% penalty reduction for cooperation and early admission of three key violations: inadequate transaction screening, insufficient anti-money laundering controls, and failure to conduct enhanced due diligence on 184,790 high-risk transactions. The case underscores growing regulatory scrutiny of crypto exchanges' compliance infrastructure as digital asset adoption accelerates.

Coinbase Europe Fined €21.5M by Irish Central Bank for AML and CTF Failures

Coinbase Europe has been slapped with a €21.5 million penalty by the Central Bank of Ireland for significant lapses in anti-money laundering (AML) and counter-terrorist financing (CTF) monitoring. The exchange failed to oversee more than 30 million transactions totaling over €176 billion between April 2021 and March 2025, exposing systemic compliance vulnerabilities.

This marks Ireland's first major enforcement action against a cryptocurrency firm, signaling Europe's tightening regulatory grip on digital asset platforms. The fine underscores growing demands for robust transaction surveillance to curb illicit financial flows.

Investigators found Coinbase's monitoring systems created substantial AML risks, with unexamined transactions potentially linked to criminal activity. The penalty sets a precedent for stricter oversight across European crypto markets.

Bitwise Advances Toward Spot Dogecoin ETF Launch in November

Bitwise has amended its S-1 filing for a spot Dogecoin ETF, triggering a 20-day countdown that could see the product launch by November 26 if the SEC doesn't intervene. The ETF would hold DOGE directly through Coinbase Custody, offering regulated exposure without requiring investors to manage private wallets.

The move signals growing institutional confidence in meme coins and reflects evolving regulatory attitudes. Analysts anticipate multiple dogecoin ETF filings this year, suggesting a potential inflection point for cryptocurrency adoption in traditional finance.

Bloomberg ETF analyst Eric Balchunas noted Bitwise's strategy of "letting the clock run" under SEC rules. The process tests regulators' willingness to allow crypto investment products to proceed without explicit approval—a significant development for the asset class.