Coinbase registers with Indian financial watchdog to offer crypto trading services

Reuters

Tue, Mar 11, 2025, 3:01 AM 1 min read

MUMBAI (Reuters) - U.S.-headquartered cryptocurrency speech Coinbase Global has registered with India's Financial Intelligence Unit (FIU), allowing it to connection crypto trading services successful the country, the institution said connected Tuesday.

Coinbase said it plans to motorboat its archetypal retail services aboriginal this twelvemonth and rotation retired further investments and products thereafter, but did not disclose a circumstantial timeline.

Coinbase's introduction into India comes astatine a clip erstwhile involvement successful the plus people has soared successful the country, with galore young Indians dabbling successful crypto and flocking to trading academies successful the hopes of supplement their regular incomes.

Other crypto exchanges that presently run successful India see CoinDCX, Binance and KuCoin.

"India represents 1 of the astir breathtaking marketplace opportunities successful the satellite today, and we're arrogant to deepen our concern present successful afloat compliance with section regulations," said John O'Loghlen, Coinbase's determination managing manager for Asia Pacific.

India requires virtual integer plus work providers, specified arsenic crypto exchanges, to registry with the FIU arsenic a reporting entity and comply with obligations mandated nether the country's anti-money laundering rules.

While the state levies a 30% taxation connected crypto trading gains, among the highest globally, it is yet to outline regulations for the plus class, which has been successful the spotlight since Donald Trump's triumph successful the U.S. Presidential predetermination past year.

India is reviewing its stance connected cryptocurrencies owed to planetary regulatory shifts, and influenced by caller U.S. argumentation changes, a elder authoritative told Reuters past month.

(Reporting by Jaspreet Kalra; Editing by Varun H K)