Coinbase News: Secures Regulatory Approval to Re-enter Indian Crypto Market with Tailored Investment Products

Coinbase has received a significant boost in its efforts to expand its presence in the Indian crypto market, securing approval from the Financial Intelligence Unit (FIU). This approval paves the way for the company to register as a virtual digital asset supplier and offer its retail services in India, along with tailored investment products for the local market.

Coinbase Secures Comeback In India After Receiving FIU’s Approval

Coinbase is ready to re-enter the Indian crypto scene after receiving important regulatory clearances from the Financial Intelligence Unit (FIU). With this approval, the company can register as a virtual digital asset supplier and launch its retail services in the country. It also plans to introduce investment products tailored to the Indian market. The news follows the US Securities and Exchange Commission (SEC) dropping a lawsuit against Coinbase just a few weeks back.

India’s FIU Approves Coinbase

Coinbase has registered with India’s Financial Intelligence Unit (FIU), enabling it to legally trade in the country. The approval is a significant step for Coinbase and the crypto community as Indian traders can now access one of the most reliable exchanges. Binance and other exchanges, like CoinDCX, already operate in the country with regulatory approval. The FIU is India’s anti-money laundering watchdog and oversees all crypto approvals. In 2022, Coinbase ceased operations in India due to unfavourable regulatory conditions.