Coinbase (Coin) is one more step towards the return fully in India after obtaining registration with the Financial Intelligence Unit (FIU), the Crypto Exchange announced on Tuesday.
The company listed at the Nasdaq, which was active in the country several years ago, was faced with a certain number of problems due to regulatory pressure and finally fell from India.
In 2022, he began his operations in the country to suspend them due to the “informal pressure” of the Bank of India Reserve. The following year, the exchange closed the new registration of users, while continuing to offer portfolio services to Indian citizens.
Recording the FIU allows Coinbase to provide trading services to the Indian market.
Earlier this year, Techcrunch reported that Coinbase was in discussion with the regulators, including the CRF, for a possible return to India.
The exchange led by Brian Armstrong said that he was planning to start retail services this year, adding that he also plans to release other products and increase investments in the country.
“India represents one of the most exciting market opportunities in the world today, and we are proud to deepen our investment here in full compliance with local regulations,” said John O’Loghlen, regional director of APAC in Coinbase.
