Coinbase is actively working towards reentering the Indian market over a year after halting its operations in the country, which is now the world’s most populous nation.
The American cryptocurrency exchange is engaging with several Indian regulatory bodies, including the Financial Intelligence Unit (FIU), a government agency responsible for monitoring financial transactions. This information comes from two anonymous sources familiar with the ongoing private discussions.
Coinbase’s efforts to return to India follow a challenging history in the region. Binance, the world’s largest cryptocurrency exchange, resumed its Indian operations in August after gaining registration with the FIU, following a seven-month regulatory hiatus.
This set a precedent for other foreign crypto exchanges looking to establish a presence in India.
