Coinbase Secures FIU Registration for Return to Indian Market

1 min

Coinbase (COIN) has secured registration with the Financial Intelligence Unit (FIU) in India, moving closer to resuming its services in the country. Previously active in India, Coinbase suspended operations due to regulatory challenges and "informal pressure" from the Reserve Bank of India.

Key points:

FIU registration enables Coinbase to offer trading services in India.
In 2022, operations were initiated but halted due to regulatory issues.
The exchange currently provides wallet services to Indian users but not new registrations.
Coinbase plans to launch retail services this year and expand product offerings.
John O'Loghlen, regional managing director for APAC, emphasized India's market potential.