Coinbase Secures FIU Registration, Set to Relaunch Trading Services in India

Coinbase Global Inc. has registered with India's Financial Intelligence Unit (FIU), paving the way for the cryptocurrency exchange to offer trading services in the country. Announced on Tuesday, this move marks Coinbase's second attempt to penetrate the Indian market, with plans to launch its retail trading platform later this year, accompanied by further investments and product offerings. In 2022, Coinbase briefly integrated with India's Unified Payments Interface (UPI) but suspended the service after only three days due to regulatory uncertainty. Despite India's stringent 30% tax on digital asset income and a 1% TDS, Coinbase joins Binance, Bybit, and KuCoin in seeking FIU registration, recognizing India's growing blockchain developer base, which surged from 3% in 2018 to 12% in 2023.