Coinbase returns to India: Crypto exchange confirms securing FIU regulatory nod

March 12, 2025--The announcement comes more than a year after Coinbase ceased operations in India due to regulatory challenges with UPI services.
US-based cryptocurrency exchange Coinbase confirmed on Tuesday, March 11, that it has secured the necessary approvals from the country's Financial Intelligence Unit (FIU) to re-enter the Indian crypto trading market.

"Coinbase plans to launch its initial retail services later this year, followed by additional investment and products in India thereafter," the company said in a press release. The announcement comes more than a year after Coinbase ceased operations in India due to regulatory challenges with UPI services.

In 2023, the Union government brought virtual digital assets (VDAs) such as cryptocurrencies under the Prevention of Money Laundering Act (PMLA), 2002.