TechFlow news, December 8 — According to TechCrunch, cryptocurrency exchange Coinbase has reopened app registration in India after a suspension of over two years. Users can currently only trade between cryptocurrencies. However, John O'Loghlen, Director for Asia-Pacific at Coinbase, said during India Blockchain Week that the company plans to launch fiat on-ramps in 2026, allowing Indian users to deposit funds to purchase crypto.
Coinbase launched services in India in 2022 but was forced to discontinue support for the UPI payment network after the National Payments Corporation of India, the operator of the Unified Payments Interface, declined to recognize its operations in the country. In 2023, Coinbase halted all services for Indian users and required them to withdraw their funds.
This year, the company completed registration with the Financial Intelligence Unit, began onboarding early users in October, and has now opened access to all users. India imposes a 30% tax on cryptocurrency gains without allowing loss offsetting, and levies an additional 1% fee on each transaction.
