Coinbase Secures License for India Relaunch, Aiming to Empower Local Crypto Innovation

Cryptocurrency exchange Coinbase is on the verge of relaunching its services in India after obtaining a license from the country's Financial Intelligence Unit (FIU) on March 11. This marks a significant step for Coinbase, which initially faced setbacks in 2022 due to regulatory issues. According to Coinbase's chief legal officer, Paul Grewal, this approval is expected to empower Indian entrepreneurs to build and scale global onchain businesses from India. While a specific timeline for the service rollout has not been announced, Coinbase plans to offer cryptocurrency trading services and provide access to tools like its Base network to India's developer community. India has shown high crypto adoption rates, particularly in retail and decentralized finance, despite facing regulatory hurdles and negative perceptions from some lawmakers.