{"id":17441,"date":"2025-03-12T15:46:48","date_gmt":"2025-03-12T15:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=17441"},"modified":"2025-03-12T15:46:48","modified_gmt":"2025-03-12T15:46:48","slug":"coinbase-secures-comeback-in-india-after-receiving-fius-approval","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=17441","title":{"rendered":"Coinbase Secures Comeback In India After Receiving FIU\u2019s\u00a0Approval"},"content":{"rendered":"<div>\n<p>Coinbase seems ready to re-enter the Indian crypto scene. Following important regulatory clearances from the anti-money laundering agency, the Financial Intelligence Unit (FIU), the company formally made its <a href=\"https:\/\/www.coinbase.com\/en-nl\/blog\/coinbase-secures-registration-in-india\" target=\"_blank\" rel=\"nofollow\">announcement<\/a> on 11 March 2025.<\/p>\n<p>With the recent FIU approval, Coinbase will be able to register as a virtual digital asset supplier. Any crypto-related company offering services must register with the Indian authorities to guarantee adherence to its anti-money laundering laws. The company can now launch its retail services in the country and plans to introduce investment products tailored to the Indian market.<\/p>\n<p>The news follows the US Securities and Exchange Commission (SEC) dropping a <a href=\"https:\/\/99bitcoins.com\/news\/sec-adds-coinbase-to-its-list-of-recently-dismissed-high-profile-cases\/\">lawsuit<\/a> against Coinbase just a few weeks back.<\/p>\n<p>John O\u2019Loghlen, managing director for Asia-Pacific at Coinbase said, \u201cIndia represents one of the most exciting market opportunities in the world today.\u201d<\/p>\n<p>Coinbase\u2019s data showcases a jump of 12% in 2023 compared to 3% in 2018 in the number of blockchain developers from India. This data makes India the country with the largest number of blockchain developers in emerging markets.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">India represents one of the world\u2019s most dynamic markets for crypto and onchain innovation.<\/p>\n<p>We have registered with India\u2019s Financial Intelligence Unit (FIU), enabling us to offer crypto trading services in the country.<\/p>\n<p>\u2014 Coinbase <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f6e1.png\" alt=\"\ud83d\udee1\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@coinbase) <a href=\"https:\/\/twitter.com\/coinbase\/status\/1899430085603537284?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 11, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-solana-meme-coins\/\" rel=\"\">Top Solana Meme Coins to Buy in March 2025<\/a><\/p>\n<h2><strong>Coinbase\u2019s Tryst with the Indian Regulatory Authorities<\/strong><\/h2>\n<p>Coinbase initiated its operations in India in April 2022 and immediately faced regulatory hurdles.<\/p>\n<p>The company had initially relied on the Unified Payments Interface (UPI) to allow users to convert Rupees to crypto. However, Coinbase suspended most of its business activities in India after the National Payments Corporation of India (NPCI) stated that it was \u201cnot aware of any crypto exchange using UPI.\u201d<\/p>\n<p>Soon after the company suspended their operations in India, Brian Armstrong, CEO at Coinbase had said, \u201cIndia is a unique market in the sense that the Supreme Court has ruled that they can\u2019t ban crypto, but there are elements in the government there, including at Reserve Bank of India, who don\u2019t seem to be as positive on it.\u201d<\/p>\n<p>In 2018, the Reserve Bank of India (RBI) instructed lenders to refrain from cooperating with the cryptocurrency sector. However, India\u2019s Supreme Court later reversed this decision in 2020. Despite reversing RBI\u2019s earlier decision, the Central Bank has remained cautious, citing concerns about economic stability.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/just-bitcoin-would-probably-be-the-best-option-says-coinbase-ceo-explore-best-crypto-to-buy\/\" rel=\"\">\u201cJust Bitcoin Would Probably Be The Best Option,\u201d Says Coinbase CEO: Explore Best Crypto To Buy!<\/a><\/p>\n<h2>Global Crypto Powerhouses Returning To India Amid Policy Shifts<\/h2>\n<p>The Indian government banned several crypto exchanges, including Binance, Bybit and KuCoin, in January 2024 from operating in the country as they did not comply with the FIU\u2019s anti-money laundering regulations. The ban on KuCoin was lifted after the company paid a fine of US $41,000, while Binance had to shell out US $2.5 million to <a href=\"https:\/\/99bitcoins.com\/news\/binance-says-exiting-india-was-never-an-option-sees-increased-institutional-queries-since-india-re-entry\/\">resume<\/a> its operations in India.<\/p>\n<p>Kraken, too, is looking to make a <a href=\"https:\/\/99bitcoins.com\/news\/this-week-in-crypto-asia-kraken-eyes-india-return\/\">comeback<\/a> in the country. Vishesh Khurana, co-founder of Shiprocket, a logistics startup, is advising the company on this endeavour.<\/p>\n<p>The Indian crypto market is potentially set for exponential <a href=\"https:\/\/99bitcoins.com\/news\/indian-crypto-market-to-expand-beyond-15-billion-by-2035-despite-high-taxes\/\">growth<\/a>. The country\u2019s population is young, tech-savvy and consists of crypto trading enthusiasts. However, the laws of the nation have kept a chokehold over the regulation of digital assets.<\/p>\n<p>According to <a href=\"https:\/\/www.imarcgroup.com\/india-cryptocurrency-market\" target=\"_blank\" rel=\"nofollow\">studies<\/a> done by the Imarc Group, the Indian market is currently predicted to rise at roughly 18% yearly over the next eight years, which is currently assessed to be around $2.6 billion.<\/p>\n<p>However, a 30% tax on cryptocurrencies combined with a 1% tax deductible at the source (TDS) continues to create a significant barrier to entry for new investors.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" rel=\"\">Top 20 Crypto to Buy in March 2025<\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Coinbase gains regulatory approval from the FIU to re-enter India\u2019s crypto market    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        High taxation and transaction levies remain a challenge for investors.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Major exchanges like Binance and KuCoin are also entering the Indian market after registering with the FIU.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/coinbase-secures-comeback-in-india-after-receiving-fius-approval\/\">Coinbase Secures Comeback In India After Receiving FIU\u2019s\u00a0Approval<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase seems ready to re-enter the Indian crypto scene. Following important regulatory clearances from the anti-money laundering agency, the Financial Intelligence Unit (FIU), the company formally made its announcement on 11 March 2025. With the recent FIU approval, Coinbase will be able to register as a virtual digital asset supplier. Any crypto-related company offering services [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-17441","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17441"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17441\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}