TechFlow news, according to TechCrunch, two sources familiar with the matter revealed that Coinbase is planning a return to the Indian market and is currently engaging with regulatory bodies such as India's Financial Intelligence Unit (FIU). Previously, Binance resumed its operations in India in August 2024 after completing registration with the FIU.
Coinbase initially entered the Indian market in April 2022 but was forced to suspend operations after just three days when the National Payments Corporation of India (NPCI) refused to recognize its UPI payment services. CEO Brian Armstrong stated at the time that the suspension resulted from "informal pressure" from India's central bank.
A Coinbase spokesperson said the company remains optimistic about opportunities in India and will comply with relevant regulatory requirements, though they did not disclose details regarding the FIU registration process. Coinbase has already invested in leading local Indian exchanges CoinSwitch and CoinDCX.
