US-based Coinbase to start offering crypto trading services in India, registers with FIU

Global crypto exchange Coinbase has announced it will offer crypto trading services in India later this year after registering with India’s Financial Intelligence Unit (FIU).

We're approved to launch in India. 🇮🇳

— Coinbase 🛡️ (@coinbase) March 11, 2025

The decision comes at a time when the global crypto market is seeing renewed energy, partly driven by pro-crypto policies in the United States under President Donald Trump, and marks a key step for Coinbase in one of the world’s most promising digital asset markets.

Coinbase registers with FIU

Coinbase’s registration with the FIU gives the exchange the green light to begin its India operations in full compliance with local regulations. In a company blog post, John O’Loghlen, the company's regional managing director for the Asia-Pacific region, said India represents one of the most exciting market opportunities.

“We’re committed to building in markets that believe in the potential of crypto and onchain innovation,” he said.

He highlighted the nation’s status as a global technology powerhouse and its fast-growing on-chain development ecosystem, which has seen its share of global developers rise from 3% in 2018 to 12% in 2023.

India represents one of the world’s most dynamic markets for crypto and onchain innovation.

We have registered with India’s Financial Intelligence Unit (FIU), enabling us to offer crypto trading services in the country.

— Coinbase 🛡️ (@coinbase) March 11, 2025

Path to India

Coinbase previously tried entering the Indian market in April 2022 but ran into difficulties. The Reserve Bank of India did not support the use of the Unified Payments Interface (UPI) for crypto transactions, and the government imposed high taxes on digital assets that year.

Despite those hurdles, the company continued to hire tech talent in India. Now, following its FIU registration, it plans to roll out its retail crypto trading service by the end of this year, followed by additional investments and expansion of products.

Regulatory challenges and comeback

Coinbase’s struggles reflect a wider clash between crypto exchanges and Indian regulators. In mid-2022, the company had to stop UPI-based payments for crypto purchases under what Brian Armstrong, Coinbase’s co-founder and CEO, described as “soft pressure” from the Reserve Bank of India (RBI).

Later, several offshore exchanges like Binance and KuCoin faced bans in the country in early 2024 for not registering locally or following anti-money laundering rules.

Now, with registration in place, the crypto giant joins other major exchanges in trying to reestablish or strengthen operations in one of the world’s largest potential crypto markets.

Focus on collaboration and growth

Coinbase has also strengthened its ties with India by appointing Chief Legal Officer Paul Grewal to the board of the U.S.-India Business Council.

The company said it aims to work alongside local authorities and innovators, helping India’s vibrant startup community build global crypto projects without going abroad.

O’Loghlen believes that better access to trusted platforms and developer tools, including Coinbase’s own Base offering, will enable young Indian entrepreneurs to innovate locally and expand worldwide.