Indian Watchdog Approves Coinbase Registration in India

Coinbase Global, a US-based cryptocurrency exchange, is now registered with India's Financial Intelligence Unit (FIU). John O‘Loghlen, Coinbase’s regional managing director for APAC, Said, “India represents one of the most exciting market opportunities in the world today, and were proud to deepen our investment here in full compliance with local regulations,”

According to Coinbase, Indias share of global blockchain developers jumped from 3% in 2018 to 12% in 2023, giving the country the highest concentration of such specialists among emerging markets and making it a strategic priority for the exchange operator.

This is Coinbase's second attempt to enter India. In 2022, the company linked with India's Unified Payments Interface (UPI) to let users buy crypto with rupees. However, three days after the launch, Coinbase had to disable the service when the UPI operator said it wasn't aware of any digital asset exchange using the network. This time, Coinbase re-enters the market.

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