Coinbase Resumes India Operations with Crypto-to-Crypto Trades
- Coinbase has reopened registrations in India after a two-year hiatus, allowing users to conduct crypto-to-crypto trades.
- The company plans to introduce a fiat on-ramp in India by 2026, enabling users to purchase digital assets directly with rupees.
- India’s stringent tax framework includes a 30% levy on digital-asset income and a 1% tax deducted at source per trade.
- Since the tax’s introduction, the Indian government has collected approximately $818 million from digital-asset activities.
- Coinbase increased its investment in CoinDCX, valuing India’s largest exchange at $2.45 billion, as part of its strategic market entry.
Coinbase’s return to India marks a significant step towards re-establishing its presence in one of the largest digital-asset markets globally. The move comes amid regulatory challenges and high taxes that have impacted local trading volumes but demonstrates Coinbase’s commitment to expanding its footprint in Asia.
By resuming operations and planning further investments, Coinbase aims to navigate India’s complex regulatory landscape while leveraging partnerships for market access. (Source)
