Michaela
Coinbase FIU approval has brought the U.S. crypto exchange one step closer to reentering the Indian market, securing a license that could enable it to resume operations after nearly three years.
On March 11, Coinbase announced in a post on X that it had secured regulatory approval from India’s Financial Intelligence Unit (FIU) to operate in the country. “We’re committed to building in markets that believe in the potential of crypto and on-chain innovation,” said John O’Loghlen, Regional Managing Director for APAC at Coinbase in a blog post.
“India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations,” O’Loghlen added.
Coinbase’s Chief Legal Officer, Paul Grewal, addressed the development in a post on X, sharing his perspective on the exchange’s latest milestone. “Coinbase is now FIU-registered. It’s a major step towards empowering Indian entrepreneurs to build, innovate and scale global onchain businesses — all from home,” Grewal wrote.
Beyond crypto traders, India’s developer community may also gain from Coinbase’s presence, with access to its suite of tools, including the Base network.
India Reassesses Crypto Policy
Coinbase’s reentry into India comes as the country is reportedly reexamining its crypto policy amid evolving global regulatory trends.
India is reportedly reassessing its stance on cryptocurrency regulation as global perspectives continue to evolve. The government is said to be reviewing a long-awaited discussion paper on cryptocurrency regulation, which was originally set for release in September 2024 but was postponed due to other priorities.
Existing regulations primarily address anti-money laundering measures and electronic fund transfers, lacking dedicated policies tailored to cryptocurrency oversight.
Coinbase views India as a key market for cryptocurrency regulation and blockchain innovation, citing the country’s expanding startup ecosystem and growing developer presence.
India’s recent interest in blockchain technology and decentralized applications positions it as a major hub for Web3 development, with an increasing number of startups and engineers contributing to the sector.
Coinbase aims to support this momentum by offering its platform and tools to foster further adoption of digital assets and blockchain solutions.
Read More
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- India Moves to Ban Private Cryptos, Favors Central Bank Digital Currency
- India Crypto Adoption Surges at Global Grassroots Level Despite Regulatory Hurdles
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
