Coinbase Plans India Comeback After Securing Regulatory Registration With FIU

The crypto exchange started withdrawing from the country in 2022 due to regulatory pressure.

Updated Mar 11, 2025, 11:35 a.m. UTCPublished Mar 11, 2025, 10:00 a.m. UTC

Coinbase (COIN) is one step closer to fully returning to India after securing registration with the Financial Intelligence Unit (FIU), the crypto exchange said on Tuesday.

The Nasdaq-listed company, which was active in the country several years ago, faced a number of issues due to regulatory pressure and eventually backed away from India.

In 2022, it started operations in the country only to suspend them due to "informal pressure" from the Reserve Bank of India. The following year, the exchange shut off new user registration, while continuing to offer wallet services to Indian citizens.

The FIU registration allows Coinbase to bring its trading services to the Indian market.

Earlier this year, TechCrunch reported that Coinbase was in discussions with regulators, including the FIU, for a possible re-entry into India.

The Brian Armstrong-led exchange said it plans to start up retail services this year, adding that it is also looking at releasing other products and increasing investment in the country.

Parikshit Mishra

Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.