Coinbase (COIN) Stock: Exchange Reopens India Operations After Two-Year Shutdown - Bullish Signal for Global Crypto Adoption

Coinbase just flipped the switch back on in India. After a two-year regulatory freeze-out, the exchange is making its second play for one of the world's largest—and most crypto-curious—markets.

The Re-entry Playbook

This isn't a tentative toe-dip. The move signals a calculated bet that the regulatory winds have shifted. India's massive, tech-savvy population represents a frontier of growth that no major exchange can afford to ignore forever. Coinbase is betting its compliance team has finally cracked the code.

Why This Move Matters for COIN

Forget the noise—this is about raw user acquisition potential. Reopening doors in India isn't just about adding another country to the map; it's about plugging directly into a demographic engine. Every major player needs a growth narrative, and 'billions of potential customers' is a hard one to argue with.

The Regulatory Tightrope

Let's be real—navigating India's policy landscape requires the finesse of a diplomat and the patience of a saint. The two-year hiatus was a masterclass in regulatory limbo. The relaunch suggests Coinbase sees a path forward, likely involving deeper local partnerships and a product suite tailored to specific mandates. It's a high-stakes game of adapting to survive.

A Shot Across the Bow

This relaunch fires a direct volley at local and global competitors who've been operating in the space. It declares that Coinbase is back in the game and ready to compete for wallet share in a market everyone agrees will be pivotal. Watch for aggressive onboarding incentives and localized features to follow.

In the grand theater of finance, where traditional banks still charge for the privilege of holding your own money, moves like this are how the new system gets built—one reopened market at a time. Coinbase isn't just restarting operations; it's reigniting a growth story that Wall Street has been waiting to hear.

TLDR

• Coinbase has reopened user registrations in India after more than two years, following a complete service shutdown in 2023
• The platform currently supports only crypto-to-crypto trading, with fiat on-ramps planned for 2026
• Coinbase registered with India’s Financial Intelligence Unit earlier in 2024 to comply with anti-money laundering requirements
• The exchange originally launched in India in 2022 but withdrew within days after payment system conflicts
• Coinbase increased its investment in local exchange CoinDCX and employs over 500 people in India

Coinbase has started accepting new users in India again. The crypto exchange shut down all operations in the country back in 2023.

BREAKING:Coinbase reopens user registration in India and plans to launch an INR-to-crypto fiat ramp in 2026.pic.twitter.com/hzoK8PLgHP

— crypto India (@CryptooIndia) December 8, 2025

The platform went live with an early-access program in October. Full registrations opened recently, APAC director John O’Loghlen confirmed at India Blockchain Week last week.

For now, Indian users can only trade crypto-to-crypto. No fiat currency options are available yet.

Coinbase Global, Inc., COIN

The exchange plans to add fiat on-ramps sometime in 2026. This will let users convert rupees directly into digital assets.

The return caps a rocky history with the Indian market. Coinbase first entered India in 2022 with support for the Unified Payments Interface.

The company pulled that feature within days. The National Payments Corporation of India publicly declined to acknowledge the exchange’s use of UPI.

By September 2023, Coinbase had kicked off millions of Indian users. The platform went completely dark in the region.

Regulatory Rebuild

O’Loghlen said the company took a “clean slate” approach to re-entry. Coinbase engaged directly with the Financial Intelligence Unit this time around.

The FIU oversees digital asset transactions for money laundering concerns. Coinbase completed its FIU registration earlier in 2024.

That registration cleared the path for the October soft launch. The exchange admitted users gradually before opening to everyone.

India remains a tough market for crypto platforms. The government charges a 30% flat tax on all crypto gains.

Traders can’t offset losses against gains. A 1% transaction levy hits every trade, which kills volume.

Investment Continues

Despite the hurdles, Coinbase keeps putting money into India. The company’s venture arm recently upped its stake in CoinDCX.

That deal valued the local exchange at $2.45 billion. Coinbase made the investment in October as part of its expansion strategy across India and the Middle East.

The company employs more than 500 people in India. Those workers handle both domestic operations and global product development.

India ranked first in global crypto adoption for the third straight year. TRM Labs put the country ahead of the U.S., Pakistan, the Philippines and Brazil in an October report.

Other major exchanges have also returned to India. Bybit restored full app access in September through both the App Store and Google Play.

Binance re-entered the market in August 2024. That came after the exchange paid a $2.25 million penalty to regulators.

Coinbase’s India workforce continues to grow across both local and international product lines. The exchange currently allows trading between cryptocurrencies only, with full fiat integration expected next year.