Kinane was suspended for two days, 27-28 July, for careless riding following the Eircell Silver Flash Stakes at Leopardstown on Wednesday.
The jockey was riding Aidan O'Brien's odds-on favourite Sophisticat and is considering an appeal against the ban.
Kinane rode Galileo to victory at both the English and Irish Derbys this season.
And he was set to ride the odds-on favourite in the King George VI and Queen Elizabeth Diamond Stakes at Ascot on Saturday week.
Three-year-old Galileo is set to face the older generation of horses for the first time, including Frankie Dettori's Fantastic Light, an impressive winner at Royal Ascot.
The highly-anticipated showdown has caught the imagination of the racing world.
Bookmakers William Hill currently have Galileo as the 4-7 favourite with Dettori's mount 5-2 second favourite.
But Kinane will miss the big race, which may also attract Irish Derby runner-up Morshdi among others, unless he lodges a successful appeal.
"It was an unfortunate race for us," commented O'Brien, who is also Galileo's trainer, after Kinane's ride at Leopardstown.
"We'll just have to go home and discuss things about Ascot."
The stewards at Leopardstown stressed on handing out the two-day ban they had taken Kinane's "good record in this regard into account".
Kinane did not receive a suspension last season and this is his first such offence this term.
If his appeal is unsuccessful, his case will mirror the likes of Kieren Fallon, Johnny Murtagh and Frankie Dettori, who missed the Vodafone Derby, Budweiser Irish Derby and the Prix du Jockey-Club respectively due to riding bans.
If Kinane had been suspended for two days in Britain, the punishment would have been deferred because there is a Group One contest on one of the days of his ban. But this is not the case in Ireland.