Coinbase is making efforts to return to the Indian market after halting operations last year due to regulatory issues. The exchange is in discussions with various governmental bodies, particularly the Financial Intelligence Unit (FIU). After a failed attempt to launch services in 2022, which ended when India's National Payments Corporation rejected its operations just days after commencement, the company is seeking the necessary licenses to operate legally. Its comeback aligns with the recent resumed activities of other exchanges like Binance, setting a precedent for foreign entities.
"Coinbase's previous attempt to launch services in India ended abruptly in 2022... the company had to suspend the service just three days later after India's National Payments Corporation refused to acknowledge Coinbase's operations."
"The timing of Coinbase's potential relaunch depends on how long it takes to secure necessary approvals, including a license to operate from the FIU."
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