Coinbase Returns to India After Two-Year Hiatus, Plans Fiat On-Ramp in 2026
Coinbase has resumed onboarding users in India, marking its first return since exiting the market in 2023 amid regulatory hurdles. The exchange currently supports crypto-to-crypto trading and plans to reintroduce a fiat on-ramp next year, APAC director John O’Loghlen said at India Blockchain Week.
The departure followed a 2022 standoff, when Coinbase launched with Unified Payments Interface (UPI) support but withdrew it after the network operator refused recognition. The company subsequently halted services, off-boarded millions, and closed local access while reassessing compliance risks.
Adopting a “clean slate” strategy, Coinbase engaged directly with India’s Financial Intelligence Unit (FIU), completing registration earlier this year. An early-access program began in October, and the app is now broadly available, though trading is limited to crypto pairs until fiat support returns.
India remains challenging due to a 30% flat tax on crypto gains, prohibition on loss offsets, and a 1% transaction levy, all of which constrain trading volumes.
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