Coinbase may soon return to India as the cryptocurrency exchange has registered with the country's anti-money laundering regulator
Coinbase Set to Return to India After Receives FIU Registration Certificate
The cryptocurrency platform has begun scaling back its operations in the country in 2022 due to pressure from regulators.
Author: Parikshit Mishra | Edited by: Sheldon Reback Updated: Mar 11, 2025 11:35 AM UTC Published: Mar 11, 2025 10:00 AM UTC
Basic information:
- Coinbase gets registered with the Pension Fund, which opens the way to return to India.
- Trade services will resume and retail services will begin later this year.
- Coinbase sees India as a major market opportunity and plans to launch additional products.
Cryptocurrency exchange Coinbase (COIN) has taken a step toward a full return to India after receiving registration with the Financial Intelligence Unit (FIU), the platform announced on Tuesday.
The Nasdaq-listed company, which had previously operated in the country, faced several challenges due to pressure from regulators and eventually suspended its operations in India.
In 2022, it launched operations in the country but then suspended them due to “informal pressure” from the Reserve Bank of India. The following year, the exchange suspended new user registrations while continuing to provide wallet services to Indian residents.
Registration with FIU gives Coinbase the opportunity to offer its trading services in the Indian market.
Earlier this year, TechCrunch reported that Coinbase was in discussions with regulators, including the FIU, about the possibility of returning to the Indian market.
Under Brian Armstrong's leadership, the exchange said it plans to launch retail services this year, adding that it is also considering launching new products and increasing investment in the country.
“India represents one of the most significant market opportunities in the world today, and we are proud to deepen our investments here in full compliance with local regulations,” said John O’Loghlen, Coinbase’s regional managing director for Asia Pacific.
