Скачать или смотреть The Crazy Story Behind Coinbase's €21M Mistake

Ireland just fined Coinbase €21.46 million for failing to monitor 30 million crypto transactions. As an AML compliance professional, I break down the coding errors that caused this massive regulatory failure.

🚨 What Went Wrong:
• 30,442,437 transactions went unmonitored due to system coding errors
• 184,790 additional transactions failed enhanced monitoring requirements
• 5 of 21 transaction monitoring scenarios were broken for 4 years
• Original fine: €30.66M (reduced 30% for early settlement)

🔍 Key Compliance Failures:
• Automated transaction monitoring system had critical coding defects
• Failures occurred between April 2021 - March 2025
• Coinbase failed to detect the errors during internal audits
• This is Ireland's FIRST enforcement action against a crypto exchange

💰 Why This Matters:
This case exposes how even major exchanges can have fundamental AML compliance breakdowns. I explain the exact transaction monitoring scenarios that failed and what this means for crypto regulation going forward.

⚖️ Regulatory Context:
• Settlement subject to High Court confirmation
• Coinbase accepted reprimand and enhanced compliance framework
• Retrospective transaction review now complete
• Sets precedent for future Irish crypto enforcement

📄 Source: https://www.centralbank.ie/docs/defau...

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