{"id":134088,"date":"2024-07-25T20:19:58","date_gmt":"2024-07-25T17:19:58","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134088"},"modified":"2024-07-25T20:19:58","modified_gmt":"2024-07-25T17:19:58","slug":"coinbase-fined-4-5-million-by-the-uks-fca","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/coinbase-fined-4-5-million-by-the-uks-fca\/","title":{"rendered":"Coinbase Fined $4.5 million by the UK&#8217;s FCA"},"content":{"rendered":"<p>The FCA originally <strong><a href=\"https:\/\/www.fca.org.uk\/publication\/final-notices\/cb-payments-limited-2024.pdf\" target=\"_blank\" rel=\"nofollow\">proposed<\/a><\/strong> a penalty of $6.442 million, which was reduced by 30% due to a settlement concession.<\/p>\n<p>The fine stems from CBPL\u2019s continued breaches, despite previous agreements to improve controls over financial crime, following a regulatory review in 2020.<\/p>\n<p>The FCA found that CBPL involved 13,416 high-risk customers who deposited around $24.9 million, later used in transactions totalling $226 million on other Coinbase platforms.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/hsbc-australia-bans-payments-to-crypto-exchanges\/\" title=\"HSBC Australia Bans Payments to Crypto Exchanges\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/3095-5d013abb40ff1-240x170.\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">HSBC Australia Bans Payments to Crypto Exchanges<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>This failure to comply with FCA guidelines significantly increased the risk of financial crime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK&#8217;s Financial Conduct Authority (FCA) has fined CB Payments Limited (CBPL), a subsidiary of Coinbase Group, $4.5 million for breaches of anti-money laundering rules.<\/p>\n","protected":false},"author":7,"featured_media":50710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-134088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Fined $4.5 million by the UK&#039;s FCA<\/title>\n<meta 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