LONDON, July 25 (Reuters) - Britain's Financial Conduct

Authority (FCA) has fined Coinbase business CB Payments Limited

(CPBL) 3.5 million pounds ($4.51 million) for poor internal

controls, the watchdog's first enforcement action against a

company involved in cryptoassets trading.

"CBPL's controls had significant weaknesses and the FCA told

it so, which is why the requirements were needed. CPBL, however,

repeatedly breached those requirements," Therese Chambers, joint

executive director of enforcement at the Financial Conduct

Authority, said on Thursday.

($1 = 0.7762 pounds)

(Reporting by Huw Jones

Editing by David Goodman

)