Coinbase Secures Regulatory Approval to Relaunch Crypto Services in India

The U.S.-based exchange has registered with India's Financial Intelligence Unit, allowing it to legally resume operations and expand offerings in the growing Web3 market.

Coinbase has obtained registration with India's Financial Intelligence Unit (FIU), enabling it to legally offer crypto trading services in the country.
The exchange plans to roll out retail services and new investment products in India later this year, though specific timelines have not been disclosed.
Coinbase is introducing its Base blockchain in India, a layer-2 platform on Ethereum designed to support low-cost and secure development for local Web3 innovators.
India's Web3 developer community has grown significantly, with its global share increasing from 3% in 2018 to 12% in 2023, highlighting the country's potential as a tech hub.
Coinbase's re-entry into India follows previous regulatory challenges, including a halt in services in 2023 due to informal pressure from the Reserve Bank of India.