Coinbase is Negotiating Return to Indian Market

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According to a report by TechCrunch on Wednesday, cryptocurrency exchange Coinbase is in discussions with Indian authorities to secure the necessary approval for re-entering the Indian market, which it exited in 2023.

The exchange is engaging with regulators, including the Financial Intelligence Unit (FIU), based on information from two individuals familiar with the situation.

“Coinbase is enthusiastic about the opportunities in the Indian market and intends to adhere to relevant regulatory requirements, though we have no announcements regarding FIU registration at this time,” a company spokesperson said.

Coinbase had initially suspended its operations in India in 2022, just days after launching, due to “informal pressure” from the Reserve Bank of India.