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Coinbase Returns to India with New Compliance Strategy
Coinbase has resumed user registrations in India after more than two years, marking its strongest step yet toward rebuilding its presence in one of the world’s largest digital-asset markets.
Crypto-to-Crypto Trading Returns for Indian Users
The exchange is once again allowing Indian customers to create accounts and conduct crypto-to-crypto trades, according to John O’Loghlen, Coinbase’s Director for Asia-Pacific.
Speaking at India Blockchain Week, O’Loghlen said the company aims to introduce a fiat on-ramp in 2026, TechCrunch reported. This would enable users to add Indian rupees directly into the Coinbase app to purchase digital assets — a feature Coinbase shut down shortly after its 2022 launch, when India’s Unified Payments Interface operator distanced itself from the platform.
Coinbase’s Withdrawal and Regulatory Reset
Following that setback, Coinbase fully exited the Indian market, offboarding “millions” of users in 2023 as part of what O’Loghlen described as a “clean slate” strategy with local regulators.
The company later began formal dialogue with India’s Financial Intelligence Unit, the authority responsible for anti-fraud and compliance oversight, and secured FIU registration earlier this year.
By October, Coinbase quietly returned with limited onboarding through an early-access program before expanding access more widely this month.
Return Amid India’s Strict Tax Regime
Coinbase’s re-entry comes despite India’s stringent tax rules for digital assets, including a 30% tax on crypto income without loss offsets and a 1% tax deducted at source (TDS) on every trade.
Government data shows that India has collected approximately $818 million (₹700 crore) in taxes related to digital-asset activity since the framework took effect in 2022–23. This includes $323 million (₹269.09 crore) in the first year and $525 million (₹437.43 crore) in 2023–24.
Industry participants say these policies have sharply reduced domestic trading volumes and complicated operations for exchanges. Despite these challenges, Coinbase is moving forward.
Strengthening Local Ties and Workforce Expansion
In October, Coinbase announced plans to increase its investment in CoinDCX, India’s largest crypto exchange, in a deal valuing the firm at $2.45 billion. Executives and analysts previously told Decrypt that this partnership gives Coinbase a more viable pathway into the Indian market than rebuilding payments infrastructure from scratch.
Coinbase also plans to expand its India workforce — already numbering over 500 employees — and views the country as a strategic hub for broader expansion across South Asia and the Middle East, according to TechCrunch.
