Coinbase is in discussions with Indian regulators because it
considers reentering the market after halting operations in 2023. The US-based
cryptocurrency change has engaged with India’s Monetary Intelligence Unit
(FIU) to discover regulatory compliance, in accordance with Cointelegraph.

Coinbase Authorized Officer Joins USIBC Board

The event follows Coinbase’s Chief Authorized Officer, Paul
Grewal, becoming a member of the US-India Enterprise Council (USIBC) international board of
administrators. The council facilitates enterprise cooperation between the 2
nations. Grewal acknowledged that he goals to help monetary innovation and
strengthen ties between the US and India.

“I’m honored to affix the USIBC Board to assist strengthen
the bridge between India and the US in shaping the way forward for finance,”
Grewal stated.

“India has one of many largest and fastest-growing Web3
ecosystems on this planet, with a booming developer neighborhood, pioneering
startups, and daring institutional adoption. Since 2018, its share of worldwide web3
builders has quadrupled to 12%, the very best progress amongst rising markets,”
he added.

JUST IN: 🇮🇳 Coinbase to re-enter India, after formally exiting Indian market in 2022. – @TechCrunch studies pic.twitter.com/wBAMbQHDeu

— Crypto India (@CryptooIndia) February 13, 2025

India Registers Binance, KuCoin After Penalties

Coinbase discontinued its companies in India in September
2023, asking customers to withdraw funds. The change didn’t present particular
causes for the exit. Earlier, in April 2022, Coinbase halted its United
Funds Interface (UPI) service in India days after launching. The Nationwide
Funds Company of India had acknowledged that it didn’t acknowledge
crypto-related UPI transactions.

Coinbase’s return would come as India maintains a strict
stance on offshore crypto exchanges. The FIU imposed restrictions on a number of
overseas platforms in late 2023 however later registered Binance and KuCoin after
gathering penalties in Could 2024. Studies in September 2024 advised that two
extra offshore exchanges have been beneath evaluate for approval.

This text was written by Tareq Sikder at www.financemagnates.com.