{"id":29584,"date":"2025-11-27T15:35:12","date_gmt":"2025-11-27T15:35:12","guid":{"rendered":"https:\/\/www.complycube.com\/?p=29584"},"modified":"2026-02-20T16:17:51","modified_gmt":"2026-02-20T16:17:51","slug":"der-cryptocubed-newsletter-november-ausgabe-2025","status":"publish","type":"post","link":"https:\/\/www.complycube.com\/de\/the-cryptocubed-newsletter-november-edition-2025\/","title":{"rendered":"Der CryptoCubed-Newsletter: November-Ausgabe"},"content":{"rendered":"\r\n

\ud83d\udc4b Welcome back to CryptoCubed!\u00a0<\/p>\r\n\r\n\r\n

The November edition of The CryptoCubed Newsletter spotlights a significant regulatory shakeup in the crypto industry. The crypto news that made the headlines this month includes Coinbase Europe’s \u20ac21.46 million fine for Anti-Money Laundering (AML) breaches, X hit with a \u20ac5 million penalty for unauthorized crypto ads in Spain, and South Korea’s increased enforcement penalties on cryptocurrency exchanges.<\/p>\r\n\r\n\r\n

Additionally, in the UK, we cover the case of Operation Destabilise and provide key updates on HMRC’s crypto taxation rules for 2026. Stay here to read more, and don’t forget to follow us on LinkedIn for more crypto updates!<\/p>\r\n\r\n\r\n

Ireland Fines Coinbase Europe \u20ac21.46 Million<\/h2>\r\n\r\n\r\n

Coinbase Europe Limited was fined \u20ac21.46 million (around US $25 million) for breaching AML and Counter-Terrorist Financing (CTF) regulations. This fine was imposed by the Central Bank of Ireland (CBI) following investigations that revealed significant lapses in the company’s transaction monitoring system. The case followed Coinbase Europe’s technical glitches caused by coding errors, which led to over 30 million transactions worth approximately \u20ac176 billion not being monitored.<\/p>\r\n\r\n\r\n

\"Coinbase<\/figure>\r\n\r\n\r\n

Coinbase took three years to file reviews of these failures, which included over 2,700 Suspicious Transaction Reports (STR) linked to financial crime, drug trafficking, and sexual exploitation. Due to Coinbase’s delayed response, the CBI initially imposed a penalty of over \u20ac30 million. This was reduced by 30% due to the company’s cooperation in an early settlement.<\/p>\r\n\r\n\r\n

In reports by the CBI, the regulator highlights that Coinbase Europe failed to implement adequate internal policies, controls, and procedures to detect and prevent money laundering and terrorist financing. Coinbase is now working collaboratively to enhance its monitoring systems in accordance with MiCA requirements.<\/p>\r\n\r\n\r\n

For more on this story, click\u00a0here<\/a>.\u00a0<\/p>\r\n\r\n\r\n

Spanish Regulator Fines Elon Musk’s X for Unauthorized Crypto Ads<\/h2>\r\n\r\n\r\n

Spain’s securities market regulator, the Comisi\u00f3n Nacional del Mercado de Valores (CNMV), has fined X \u20ac5 million (around US $6 million) for unauthorized crypto ads on the platform. Formerly known as Twitter, X is a global communication platform app acquired and rebranded by Elon Musk in 2022.<\/p>\r\n\r\n\r\n

According to CNMV, X breached crypto advertising regulations under Spanish laws. The company failed to verify the crypto trading platform, Quantum AI, and whether it was authorized to provide investment services or properly listed in regulatory warnings. The CNMV notes that the penalty aims to set a precedent on the increasing responsibility of digital platforms in vetting financial advertisers.<\/p>\r\n\r\n\r\n

\"Elon<\/figure>\r\n\r\n\r\n

CNMV operates under the Securities Market Law 24\/1988, with the purpose of protecting investors and consumers by ensuring market transparency. The regulator emphasizes the importance of due diligence<\/a> to safeguard individuals from misleading or unauthorized cryptocurrency advertising. This is part of Spain’s broader goal to align with the EU’s Markets in Crypto-Assets (MiCA) regulation.<\/p>\r\n\r\n\r\n

For more on this story, click\u00a0here<\/a>.\u00a0<\/p>\r\n\r\n\r\n

South Korea’s Massive Crackdown on Leading Crypto Exchanges<\/h2>\r\n\r\n\r\n

South Korea has intensified its enforcement of AML penalties on cryptocurrency exchanges. Out of those affected, Dunamu, the operator of South Korea’s top crypto exchange, Upbit, faced the highest fine of 35.2 billion won (around US $25 million). Other firms, such as Bithumb, Coinone, Korbit, and GOPAX, have also been involved, with the country’s Financial Intelligence Unit (FIU) signaling similar penalties.<\/p>\r\n\r\n\r\n

\"South<\/figure>\r\n\r\n\r\n

The FIU operates as South Korea’s specialized agency overseeing the implementation of critical Know Your Customer (KYC) and AML frameworks in crypto services. Despite several warnings and sanctions, the FIU found that these affected exchanges had not upgraded their AML systems. In particular, investigations revealed that Dunamu had up to 5.3 million violations. The firm was issued a three-month suspension on new customer onboarding.<\/p>\r\n\r\n\r\n

Authoritative statements from the FIU indicate that ongoing delays and inadequate upgrades in AML systems by some exchanges have prompted regulators to shift from warnings to punitive measures. VASPs in South Korea are feeling the pressure, with weaker players facing the possibility of complete dissolution if they are unable to meet stringent regulatory demands.<\/p>\r\n\r\n\r\n

For more on this story, click\u00a0here<\/a>.\u00a0<\/p>\r\n\r\n\r\n

UK’s 2026 HMRC Crypto Reporting Tax Rules<\/h2>\r\n\r\n\r\n

From January 1st, 2026, all UK cryptoasset<\/a> providers are required to collect and report robust personal and transactional information about their customers and businesses to HM Revenue and Customs (HMRC). Previously, UK crypto taxation relied on voluntary disclosure by taxpayers themselves, with limited data sharing between crypto platforms and HMRC.<\/p>\r\n\r\n\r\n

This move aims to improve transparency, accountability, and tax compliance within the crypto sector. Exchanges, brokers, and dealers must report complete customer information, including full name, address, date of birth, tax residency status, tax identification numbers, and crypto transactions. Under this new reporting requirement, HMRC aims to shift part of the compliance burden to crypto-asset services.<\/p>\r\n\r\n\r\n

\"HMRC\u2019s<\/figure>\r\n\r\n\r\n

The shift is critical in enabling HMRC to close the gap of tax evasion that arises from the inaccurate declaration of crypto gains or income from customers. The first reports covering all 2026 transactions must be submitted by May 31, 2027. Crypto providers are encouraged to start collecting information earlier to better prepare for the new rules when they take effect.<\/p>\r\n\r\n\r\n

For more on this story, click\u00a0here<\/a>.<\/p>\r\n\r\n\r\n

Russian Money Laundering Network Exposed<\/h2>\r\n\r\n\r\n

Over \u00a325 million in cash and cryptocurrencies were seized in the UK from the downfall of a Russian money-laundering network. The investigation, known as Operation Destabilise, was led by the UK’s National Crime Agency (NCA), which found an extensive billion-dollar Russian criminal network operating across the UK and internationally.<\/p>\r\n\r\n\r\n

\"Russian<\/figure>\r\n\r\n\r\n

The network evaded sanctions and made use of cash-intensive businesses and cryptocurrency exchanges to launder money. The NCA has made a total of 128 arrests as a result of the operation. This case exposes the vulnerabilities and loopholes that persist in crypto firms.<\/p>\r\n\r\n\r\n

\r\n

We are working tirelessly to detect, disrupt, and prosecute<\/a> anyone engaging in activity for a hostile foreign state.<\/p>\r\n<\/blockquote>\r\n\r\n\r\n

Security Minister Dan Jarvis mentioned, “We are working tirelessly to detect, disrupt, and prosecute anyone engaging in activity for a hostile foreign state. It will never be tolerated on our streets.” This case highlights the weak KYC policies and transaction monitoring systems that still occur within the crypto scene despite heightened regulations.<\/p>\r\n\r\n\r\n

For more on this story, click\u00a0here<\/a>.<\/p>\r\n\r\n\r\n

Time for Your Monthly CryptoCubed Poem<\/h2>\r\n\r\n\r\n

So you\u2019ve made it to the end of our newsletter. It\u2019s time to enjoy a little satire, worthy reader, you\u2019ve earned it.<\/p>\r\n\r\n\r\n

\ud83d\udd25 THE CRYPTO CUBED POEM: NOVEMBER \ud83d\udd25<\/h3>\r\n\r\n\r\n

Coinbase Europe’s code had slipped,<\/p>\r\n\r\n\r\n

Thirty million trades unzipped.<\/p>\r\n\r\n\r\n

AML rules breached, fines immense,<\/p>\r\n\r\n\r\n

Twenty one million euros’ expense.<\/p>\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n

X’s ads in Spain went stray,<\/p>\r\n\r\n\r\n

Five million euros must now be paid.<\/p>\r\n\r\n\r\n

South Korea cracks down with might,<\/p>\r\n\r\n\r\n

Crypto rules now held more tight.<\/p>\r\n\r\n\r\n

Click here<\/a> to learn more about how ComplyCube supports cryptocurrency firms in maintaining global AML and KYC compliance.<\/h3>\r\n\r\n\r\n

Stay tuned for our next newsletter and have a great day ahead!<\/h3>\r\n\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"

Die November-Ausgabe von CryptoCubed enth\u00e4lt unter anderem die Geldbu\u00dfe von Coinbase Europe in H\u00f6he von 21,46 Millionen Euro wegen Verst\u00f6\u00dfen gegen die Geldw\u00e4schebestimmungen, die Strafe von 5 Millionen Euro f\u00fcr X wegen unautorisierter Krypto-Werbung sowie die versch\u00e4rften Durchsetzungsma\u00dfnahmen S\u00fcdkoreas gegen Krypto-B\u00f6rsen.<\/p>","protected":false},"author":27,"featured_media":22156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[62],"class_list":["post-29584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-regulations"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t