Coinbase News: Exchange Plans Indian Comeback After Securing Regulatory Clearance

Coinbase, a prominent cryptocurrency exchange, is set to make a return to the Indian market after securing regulatory registration with the Financial Intelligence Unit (FIU). Here’s a closer look at the developments that led to this decision.

Coinbase Plans India Comeback After Securing Regulatory Registration

Coinbase is one step closer to fully returning to India after securing registration with the Financial Intelligence Unit (FIU). The Nasdaq-listed company faced issues due to regulatory pressure and eventually backed away from India. In 2022, it started operations in the country but had to suspend them due to informal pressure from the Reserve Bank of India. The following year, the exchange shut off new user registration while continuing to offer wallet services. The FIU registration now allows Coinbase to bring its trading services to the Indian market.

Coinbase Gains FIU Approval for Indian Market Re-entry; SEC Drops Lawsuit

Coinbase has secured registration with India’s Financial Intelligence Unit (FIU), enabling it to offer trading services in the Indian market. Additionally, the US Securities and Exchange Commission (SEC) has dropped its lawsuit against Coinbase, signaling a shift in its stance on cryptocurrency industry regulation. Coinbase had faced regulatory challenges in India in the past but has now made progress in returning to the country.