Coinbase may return to India as crypto exchange registers with country anti-money laundering regulator
Coinbase (Coin) is a step closer to the full return to India after registering with the registration with the Financial Intelligence Unit (FIU), the crypto exchange said Tuesday.
The company listed in the Nasdaq, active in the country a few years ago, faced many issues due to regulatory pressure and eventually turned away in India.
In 2022 it initiated operations in the country only to suspend them because of “Informal pressure” From the Reserve Bank of India. Next year, The exchange closes new user registrationAs the purse services continue to offer to Indian citizens.
The FIU registration allows Coinbase to bring its trade services to the Indian market.
Earlier this year, Techcrunch reports that Coinbase are in discussions with regulators, including FIU, for a possible re -entry into India.
Brian Armstrong said that the exchange led that it plans to start retail services this year, adding that it also looks at the release of other products and increasing investment in the country.
“India represents one of the most exciting market opportunities in the world today, and we are proud to deepen our investment here in full compliance with local regulations,” said John O’loghlen, director of regional management for APAC in Coinbase.
