Coinbase Prepares for Potential Re-Entry into Indian Crypto Market

The U.S. crypto exchange is engaging with Indian regulators to address past challenges and explore partnerships for a possible relaunch.

Coinbase is in discussions with India's Financial Intelligence Unit (FIU) to secure regulatory approval for a potential relaunch after exiting the market in 2023.
The company plans to reintroduce a centralized exchange platform, potentially incorporating UPI-based crypto transactions, pending regulatory clarity.
Coinbase's previous 2022 launch in India was short-lived due to regulatory resistance from the National Payments Corporation of India and informal pressure from the Reserve Bank of India.
Executives are scheduled to visit India in March to meet with regulators and potential local partners for compliance and operational support.
India remains a key market for global crypto exchanges, leading in global crypto adoption despite a complex regulatory environment and high tax burdens on crypto transactions.