Coinbase plans a strategic re-entry into India's complex cryptocurrency market, prioritizing regulatory compliance.
Matilda
Coinbase's Calculated Comeback: Navigating India's Crypto Labyrinth
Coinbase, the prominent US-based cryptocurrency exchange, is diligently charting a course back to the Indian market, more than a year after abruptly halting operations in the world's most populous nation. This renewed interest signals a calculated move by Coinbase to tap into the immense potential of India's digital asset space, while also underscoring the intricate regulatory landscape that governs cryptocurrency in the country. Their efforts involve engaging with key Indian authorities, most notably the Financial Intelligence Unit (FIU), a government body tasked with scrutinizing financial transactions, according to sources familiar with the ongoing discussions. These sources, who requested anonymity due to the sensitive nature of the deliberations, reveal the depth of Coinbase's commitment to a successful re-entry. Coinbase's journey in India has been anything but smooth. Their initial foray into the market in April 2022 was met with considerable fanfare, marked b…
