Ireland Issues Landmark Fine for Crypto AML, Indicating Tighter Regulatory Scrutiny
- Ireland's Central Bank fined Coinbase Europe €21.5M for systemic AML/CFT failures between 2021-2025, marking its first crypto disciplinary action. - Technical errors allowed 31% of Coinbase's €176B transactions to bypass monitoring, exposing risks for money laundering and cybercrime. - The 30% reduced penalty under a settlement program highlights Europe's intensified crypto regulation, with Coinbase now enhancing monitoring protocols. - Regulators emphasized the need for real-time AML controls in crypto,
The Central Bank of Ireland has issued a record €21.5 million ($25 million) penalty to
The investigation revealed that Coinbase Europe, part of the U.S.-headquartered Coinbase Group, failed to oversee more than 30 million transactions worth €176 billion ($200 billion) during a period marked by technical issues. These unchecked transactions represented 31% of the company’s total activity at that time
Coinbase Europe acknowledged its responsibility for the violations and accepted the fine, which was reduced by 30% under the Undisputed Facts Settlement arrangement
This enforcement comes as European authorities ramp up regulation of the crypto sector. In June 2025, Coinbase obtained a Markets in Crypto-Assets (MiCA) license in Luxembourg, while the European Anti-Money Laundering Agency (AMLA) introduced stricter rules in July 2025, including bans on anonymous wallets and privacy coins
Since then, Coinbase has upgraded its transaction monitoring, adding more comprehensive testing and expanding the range of scenarios it monitors
This penalty sends a clear warning to the crypto sector. As regulators place greater emphasis on enforcing AML standards, companies must prioritize real-time monitoring and strong internal controls to avoid sanctions. As Kincaid remarked, “Effective AML relies on prompt monitoring and reporting—any delay can seriously hinder law enforcement’s ability to fight crime”
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