#cryptofinancing — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #cryptofinancing, aggregated by home.social.
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Coinbase slap down!
Coinbase Europe, which is part of the Coinbase Group, has been fined €21M (~$25M USD) by the Central Bank of Ireland for breaching its anti-money laundering and counter terrorist financing transaction monitoring obligations between 2021 and 2025.
Coinbase Europe is required to flag suspicious transactions (money laundering, terrorist financing etc.) by filing a Suspicious Transaction Report (STR) for every suspicious transaction. It took Coinbase Europe almost three years to fully complete the monitoring of the impacted transactions. Subsequent monitoring led to the reporting of 2,708 STRs.
The STRs submitted contained suspicions activity associated with criminal activities including: money laundering; fraud/scams; drug trafficking; cyber-attacks (malware/ransomware); and child sexual exploitation. https://www.centralbank.ie/news/article/press-release-enforcement-action-against-coinbase-europe-limited-6-November-2025 #CoinBase #Ireland #FinancialCrime #Crime #Crypto #CryptoFinancing #CryptoExchange #MoneyLaundering #HumanTrafficking