Cryptocurrency exchange Coinbase has resumed its services in India after a two-year suspension. In 2023, the company halted all operations in the country, leading to the removal of millions of Indian users’ accounts and the closure of local access to reassess regulatory concerns. Coinbase has now reactivated its sign-up process and aims to introduce a direct fiat-to-crypto on-ramp by 2026. As a globally recognized platform facilitating the trading of digital currencies like Bitcoin and Ethereum, Coinbase’s return signals a positive development for India’s rapidly growing crypto market. However, the uncertain regulatory environment remains a significant challenge for investors and companies alike. The planned fiat on-ramp will enable users to invest in cryptocurrencies using Indian rupees more easily, potentially expanding market access. Despite this progress, clarity in regulatory frameworks and security issues continue to pose risks for both the company and its users. Similar to other South Asian countries, including Pakistan, India is still in the process of adopting and regulating cryptocurrencies, making the market’s future trajectory uncertain. Coinbase’s renewed commitment reflects the global crypto market’s recognition of India’s importance and investment potential.
Source: coindesk
