Coinbase Set to Re-Enter India After FIU Approval
Coinbase gains approval from India’s FIU, marking its return to the Indian market.
- Coinbase secures regulatory approval from India’s FIU.
- The exchange plans to resume operations in India soon.
- Compliance with local laws is key to its re-entry strategy.
After a long hiatus, Coinbase is set to re-enter the Indian market following approval from India’s Financial Intelligence Unit (FIU). The exchange had previously halted some of its operations due to regulatory challenges but has now met compliance standards required by Indian authorities.
Why Coinbase Had to Pause Operations
In 2022, Coinbase faced obstacles in India due to regulatory uncertainty and issues with payment processors. The Reserve Bank of India (RBI) had imposed restrictions that made it difficult for the exchange to offer smooth crypto transactions. This led Coinbase to scale back its services, impacting Indian users who sought access to global crypto markets.
What This Means for Indian Crypto Users
With FIU approval, Coinbase can now legally operate within India’s regulatory framework. This is a positive sign for Indian crypto traders, as it may lead to better accessibility, improved liquidity, and enhanced security in crypto trading. Additionally, it could pave the way for other international exchanges to comply with India’s evolving regulations and re-enter the market.
