Coinbase Fined $24.6M by Irish Central Bank for AML Compliance Failures

The Central Bank of Ireland has imposed a substantial $24.6 million penalty on cryptocurrency exchange Coinbase for significant anti-money laundering (AML) regulatory violations. This enforcement action addresses critical deficiencies in Coinbase's AML compliance framework and customer due diligence processes. The penalty highlights increasing regulatory scrutiny on crypto exchanges operating in European markets and underscores the importance of robust financial crime prevention systems in the digital asset industry.