Coinbase Global, one of the world’s largest cryptocurrency exchanges, has registered with India’s Financial Intelligence Unit (FIU), paving the way for its entry into the country’s growing digital asset market. The company confirmed on Tuesday that it plans to launch retail trading services later this year, followed by additional investment products.
While Coinbase has not provided a specific timeline for its rollout, the move signals a renewed push into India’s crypto landscape, where interest in digital assets continues to surge despite regulatory uncertainty.
Coinbase’s decision to establish operations in India comes amid a rising wave of crypto adoption, particularly among younger investors. Many retail traders in India have turned to cryptocurrencies as an alternative investment avenue, even as the country continues to debate its regulatory framework for virtual assets.
“India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations,” said John O’Loghlen, Coinbase’s regional managing director for Asia Pacific.
Coinbase will join existing crypto exchanges operating in India, including CoinDCX, Binance, and KuCoin, intensifying competition in an already active market.
Under Indian law, virtual digital asset service providers such as crypto exchanges must register with the FIU as reporting entities and comply with anti-money laundering regulations. This ensures that platforms like Coinbase operate under stricter guidelines aimed at curbing financial crimes and improving transparency.
However, India’s taxation policies on crypto remain among the strictest globally, with a 30% tax on trading gains and a 1% tax deducted at source (TDS) on transactions. Despite these hurdles, the country remains an attractive market for international exchanges due to its large pool of retail investors and growing fintech adoption.