Coinbase Seeks to Re-Enter the Indian Crypto Market
Date: 2025-02-14 Author: Gabriel Deangelo Categories: BUSINESS
An anonymous source at Coinbase (NASDAQ:COIN) noted that the company sees great potential in the Indian market and intends to comply with all local legal requirements. Although cryptocurrency trading is not prohibited in India, banks and other financial institutions try to avoid cooperation with crypto companies. This is due to informal pressure from the Reserve Bank of India, which complicates the work of market participants.
The relaunch of the Indian Coinbase platform will depend on the time it takes to complete all regulatory procedures, including obtaining a license from the FIU. In March, the company plans to meet with regulators to better understand the registration process. According to preliminary estimates, obtaining approval may take several months, and a full return of Coinbase to the Indian market will probably not happen before the end of the year.
Earlier, another major crypto exchange, Binance, successfully completed the FIU-IND registration process, allowing it to resume operations in the country. After receiving all the necessary approvals, users in India were able to access the Binance website and mobile apps again.
