Share this article
Coinbase in Talks for Return to India 2 Years After Exit: Report
The exchange would be following in the steps of Binance and Bybit if it manages to secure a license.
Feb 13, 2025, 10:57 a.m.
Make us preferred on Google
What to know:
- Coinbase is in talks with the Financial Intelligence Unit (FIU), Tech Crunch reported.
- The exchange suspended operations in 2022, shortly after starting up in India. It stopped registering new users in 2023.
Crypto exchange Coinbase (COIN) is holding talks with Indian authorities in an effort to secure approval to return to the country it quit in 2023, Tech Crunch reported on Wednesday.
The exchange is in talks with regulators including the Financial Intelligence Unit (FIU), Tech Crunch said, citing two people familiar with the matter.
STORY CONTINUES BELOW
"Coinbase is excited by the opportunities in the Indian market, and intends to comply with applicable regulatory requirements, but we have nothing to announce regarding a FIU [Financial Intelligence Unit] registration at this time," a spokesperson for the U.S. company told CoinDesk.
Coinbase suspended operations in India in 2022, days after starting up due to "informal pressure" from the Reserve Bank of India. In 2023, the exchange said it stopped allowing user registrations, but continued to offer its Coinbase wallet to citizens in India and added that it would "explore ways to strengthen" its presence in the nation.
The company joins other crypto exchanges in looking to establish, or reestablish a presence in the world's most populous country. Binance, the largest exchange by volume traded, registered with the FIU last year after paying a $2.2 million fine for operating without authorization. Bybit, ranked No. 2 on CoinGecko, registered after paying a $1 million fine.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
What to know:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
Top Stories
