Coinbase in Talks for Return to India 2 Years After Exit: Report

The speech would beryllium pursuing successful the steps of Binance and Bybit if it manages to unafraid a license.

Feb 13, 2025, 10:57 a.m. UTC

Crypto speech Coinbase (COIN) is holding talks with Indian authorities successful an effort to unafraid support to instrumentality to the state it discontinue successful 2023, Tech Crunch reported on Wednesday.

The speech is successful talks with regulators including the Financial Intelligence Unit (FIU), Tech Crunch said, citing 2 radical acquainted with the matter.

"Coinbase is excited by the opportunities successful the Indian market, and intends to comply with applicable regulatory requirements, but we person thing to denote regarding a FIU [Financial Intelligence Unit] registration astatine this time," a spokesperson for the U.S. institution told CoinDesk.

Coinbase suspended operations successful India successful 2022, days aft starting up owed to "informal pressure" from the Reserve Bank of India. In 2023, the speech said it stopped allowing idiosyncratic registrations, but continued to connection its Coinbase wallet to citizens successful India and added that it would "explore ways to strengthen" its beingness successful the nation.

The institution joins different crypto exchanges successful looking to establish, oregon reestablish a beingness successful the world's astir populous country. Binance, the largest speech by measurement traded, registered with the FIU past twelvemonth after paying a $2.2 million good for operating without authorization. Bybit, ranked No. 2 connected CoinGecko, registered aft paying a $1 cardinal fine.

Camomile Shumba

Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. Previously, Shumba interned astatine Business Insider and Bloomberg. Camomile has featured successful Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, doctrine and economics arsenic a combined grade astatine the University of East Anglia earlier doing a postgraduate grade successful multimedia journalism. While she did her undergraduate grade she had an award-winning vigor amusement connected making a difference. She does not presently clasp worth successful immoderate integer currencies oregon projects.