According to announcement On March 11, US-based Crypto Exchange Coinbase is set up to re-enter India after registering with the national financial information unit (FIU). The exchange said the development marks a significant milestone in its international expansion strategy.
Coinbase set to re-enter the Indian market
Coinbase, a leading digital asset trading platform, is ready to return to India. Exchange is expected to launch its first retail service later this year, noting that additional products will be added.
For beginners, FIU is an Indian money laundering watchdog and oversees all crypto exchanges operating within the country. Digital asset trading platforms like CoindCX are already registered with the FIU, but Coinbase rival Binance has recently received regulatory approval from WatchDog.
That Coinbase is worth noting I stopped India operations in 2022 due to unfavorable domestic digital assets regulations. At the time, Coinbase CEO Brian Armstrong said the exchange must leave the market due to “unofficial pressure” from India's central bank.
Coinbase's re-entry into India occurs when US crypto regulations are undergoing major changes. Commenting on the development, John Ologlen, Regional Managing Director of APAC at Coinbase, said:
We are committed to building in a market that believes in the potential of crypto and on-chain innovation. India is one of the most exciting market opportunities in the world today and we are proud to fully adhere to local regulations for your investments here.
The announcement states that India's emergence as a global technology powerhouse is naturally fit for Coinbase's international expansion. Over the years, India has solidified its position as a major on-chain development hub, increasing its global developer share from 3% in 2018 to 12% in 2023.
US-based exchanges such as Coinbase, Gemini and Kraken discovered bailouts following the victory of US President Donald Trump in the November 2024 election. February, Securities and Exchange Commission (SEC) It was dropped This is an example of its implementation for Coinbase.
Coinbase's push for global expansion is primarily supported by a positive US regulatory environment. Recently, digital assets exchanges announcement Plans to add 1,000 new workers to the United States.
India rethinks its attitude towards cryptocurrency
For a long time, India has maintained an adversarial attitude towards digital assets; Impressive A significant tax on crypto transactions to discourage investors from being involved in emerging asset classes.
India's harsh attitude towards cryptocurrency is impressive as the country is ranked beginning Worldwide from the perspective of cryptography adoption. India's policy of blocking crypto businesses has forced many crypto entrepreneurs to move to countries such as the UAE and Singapore to set up their businesses.
But India is reported to see a positive outlook on Trump's digital assets Rethinking Its dramatic attitude towards cryptocurrency. At the time of pressing, BTC will trade at $81,633, an increase of 3.1% over the past 24 hours.
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