UK’s Coinbase subsidiary fined $4.5 Million for high-risk customer breaches

CB Payments Limited (CBPL) a subsidiary the Coinbase Group fined $4.5 million by FCA for onboarding high-risk customers. Breaches occurred despite a 2020 agreement to halt onboarding high-risk customers. This is FCA’s first action under Electronic Money Regulations 2011 against a crypto firm. In a landmark decision, the Financial Conduct Authority (FCA) has fined the […] source: https://coinjournal.net/news/uks-coinbase-subsidiary-fined-4-5-million-for-high-risk-customer-breaches/