Coinbase Returns to India: Crypto India is Growing, Here’s How It Impacts the Crypto Industry!
Jakarta, Pintu News – Crypto exchange platform, Coinbase, has secured permission to return to offering cryptocurrency trading services in India after previously exiting the market due to regulatory constraints.
Coinbase announced that it has officially registered with India’s Financial Intelligence Unit (FIU), allowing it to resume providing crypto services in the country. This decision marks an important step in Coinbase’s international expansion strategy, which plans to launch initial retail services this year, followed by additional investments and products.
India’s Crypto Market is Growing
India has become one of the countries with the highest crypto adoption rate in the world. According to the Chainalysis 2024 report, India has a strong decentralized finance ecosystem, supporting the growth of this industry. Along with the growing interest in digital assets, especially among young people looking to earn extra income, Coinbase sees a great opportunity to return to the Indian market.
In addition, India has grown into a global blockchain development hub, with the number of on-chain developers in the country increasing from 3% in 2018 to 12% by 2023. This factor is a draw for Coinbase in expanding access to crypto platforms and tools to support local innovation.
Also Read: Bitcoin’s RSI Dominance Down? Crypto Analyst Seth Says Altcoin Market Opportunities Await!
Crypto Regulatory and Tax Challenges in India
Despite the rapid growth of the crypto industry in India, there are still regulatory challenges to be faced. India imposes a 30% tax on crypto trading profits, one of the highest in the world. In addition, regulations related to digital assets are still being evaluated by the Indian government.
In an interview, India’s Secretary of Economic Affairs, Ajay Seth, stated that the government is reviewing its crypto-related policies. Several countries have changed their stance on digital assets, so India is also considering adjusting its regulations to better match global trends.
Coinbase’s Commitment to the US-India Economic Relationship
As part of its strategic expansion, Coinbase is also working to strengthen economic ties between the United States and India. Coinbase’s Chief Legal Officer, Paul Grewal, was recently appointed as a board member of the U.S.-India Business Council (USIBC), an organization that plays a role in strengthening business relations between the two countries.
Coinbase emphasizes that crypto is not just financial infrastructure, but can also contribute to social and economic policies. By expanding access to crypto services in India, Coinbase hopes to encourage young innovators to develop global-scale products right from their own country.
Conclusion
Coinbase’s decision to return to India shows the huge potential of the crypto market in the country, although there are still regulatory challenges to overcome. With growing interest and support for blockchain innovation, India has the opportunity to become one of the world’s leading crypto development centers. Coinbase’s move also reflects its commitment to building closer economic ties between the US and India through the cryptocurrency industry.
Also Read: Will ETH Fall Below $1,500 Before the Market Recovers? Here’s the Price Pattern Analysis! (3/13/25)
That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.
Follow us on Google News to get the latest information about crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu Crypto via Google Play Store or App Store now.
Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- CryptoDaily. Coinbase Registers with India’s Financial Intelligence Unit, Cleared to Offer Crypto Trading Services. Accessed March 13, 2025.
- Featured Image: Generated by AI
