Coinbase hit with its second Irish fine in under a year The Central Bank of Ireland (@centralbank_ie) fined the Irish unit of @coinbase €3.25M after finding it let customer money mix with funds belonging to customers of other Coinbase companies from November 2020 to August 2025. The regulator also said the unit leaned too heavily on its US parent to run those protections, without enough local oversight. The penalty was cut from €4.65M under a 30% settlement discount and still needs High Court approval. Coinbase said it reported the issues itself and that no customers lost money or access to their funds. A separate €21.46M fine hit Coinbase Europe in November 2025 over gaps in AML checks.

BOT to tighten controls on mighty exchange businesses in a bid to crack down on grey money and illicit financial activities. The Bank of Thailand plans to introduce stricter regulations, with new applications temporarily suspended before revised rules take effect in 2028. The move is part of a broader effort to protect Thailand’s financial system from fraud and illegal funds. #thailand# #greybiz# #centralbank# #fx#

In an important change that's both needed and will be welcomed by many, Federal Reserve Chair Kevin Warsh just announced a shift in the FOMC meeting schedule to allow for deeper, strategic discussions. Next year, one of the eight traditional policy meetings will be dedicated to a more strategic discussion. That is likely to rise to two in the following year. #economy# #markets# #centralbanks# #federalreserve#

Quite a few of those now calling for rate hikes because inflation has exceeded target for over five years supported a series of rate cuts last year—when inflation had already been above target for four years. This isn't an argument against a policy response; inflation demands one. But there remains far too much focus on monetary policy and far too little on tools better suited to the task, including fiscal consolidation (an issue detailed in my September FT column). #economy# #markets# #inflation# #federalreserve# #centralbanks#

As widely expected, the Fed kept interest rates unchanged in a 10–2 vote. De facto avoiding forward guidance, the FOMC's statement noted that "the accumulation of more information will help the Conmittee determine the policy stance appropriate to ensure a timely return of inflation to the Committee's 2 percent target." Both dissenters favored a rate hike. Attention now shifts to Chair Warsh's press conference. #economy# #markets# #federalreserve# #centralbanks#

As the Fed's two-day meeting gets underway, here is market pricing via Bloomberg for rate hikes (chart). This includes a very low (~10%) probability of an October move and a high (~80%) probability of one priced in for December. #economy# #markets# #federalreserve# #centralbanks#

The Federal Reserve kicks off its two-day meeting today, with markets overwhelmingly expecting tomorrow's announcement to hold rates unchanged. We should expect a relatively hawkish tone in the remarks that follow, given the string of recent inflation data. Dissents on the decision are possible, though that's less clear. #FOMC# #FederalReserve# #economy# #markets# #centralbanks#

Central Bank Mastercard debit card repeatedly declined loading X Money. Branch blamed Mastercard vs Cross River. Debit services says Fiserv blocked it over fraud flags. Worked fine before. Anyone else? @XMoney @Fiserv @CentralBankMW

Via the @FT, my thoughts on why central bank rate hikes should not be “the only game in town” when it comes to addressing today's inflation challenge. The real remedies lie not with central banks but with governments: addressing supply bottlenecks and pursuing greater fiscal consolidation (which would also ease pressure on long-run yields by creating more room for the funding of innovations). #economy# #markets# #centralbanks# #inflation#