Coinbase, the largest cryptocurrency exchange platform in the U.S., has begun accepting new users in India again after a 2-year hiatus.
This return comes after continuous contact with regulatory authorities in India. Despite heavy taxation and regulatory conflicts, India continues to show rapid growth in the adoption of digital assets.
Coinbase has reopened access for Indian users.
Coinbase launched in India in April 2022, focusing on the growing crypto user base. However, regulatory conflicts arose quickly.
The platform suspended support for the Unified Payments Interface (UPI) after the National Payments Corporation of India (NPCI) distanced itself from the platform. In September 2023, Coinbase stopped onboarding new users in India and advised existing users to withdraw their funds.
Despite such obstacles, the company continues to strive to reestablish its presence in India. In February, BeInCrypto reported that the platform had started working with regulators in India to comply with local compliance requirements.
According to TechCrunch, Coinbase has begun to accept Indian users back on the platform in October through a pre-access program. The app registration is now widely open, although Indian customers are still restricted to crypto-to-crypto transactions.
During India's Blockchain week, Coinbase's APAC manager, John O’Loghlen, stated that the company plans to launch a deposit system in 2026, which will allow users to fund accounts with local currency and purchase cryptocurrencies directly.
“We once had millions of customers in India, and we made a clear decision to bring those customers out of the foreign entities they were residing in and being regulated by because we want to do this right. For the entrepreneurs looking to make money and having engaged users, that’s the worst thing you can do. You know, it’s not done without some anxiety,” O’Loghlen said.
Coinbase's return to the market is not limited to just access to the platform. In October 2025, the company announced a strategic investment in CoinDCX, the largest crypto exchange platform in India, which has over 20.4 million users.
Last week, a partnership agreement was made with the government of Karnataka to strengthen the blockchain ecosystem and technical capabilities of the state, with a focus on training developers, incubating startups from early stages, and increasing public awareness.
Why the exchange market is returning to India's crypto market.
In addition to Coinbase, several other global exchanges have returned to the Indian market. Bybit resumed services after complying with local registration requirements and paying a fine of USD 1 million. Meanwhile, Binance returned to India last year after paying a fine of USD 2.2 million.
Resuming operations in India is critically important due to the country's stringent tax system. Profits from crypto are taxed at 30%, and every transaction is subject to a withholding tax (TDS) at a rate of 1%. However, India remains a leader in the Asia-Pacific region in crypto activity.
India, with a market value of USD 338 billion, combines grassroots adoption with gaps in the financial structure: there is a large number of migrants with a need for remittances back home, and younger adults use crypto trading as a supplement to their income. The fintech systems UPI and eRupi accelerate usage, as emphasized by Chainalysis.
Even though the legal environment in India remains challenging, the renewed interest from Coinbase, Binance, Bybit, and others indicates the long-term potential of the market. With strong grassroots adoption and continued government engagement, India is positioning itself as a hub for digital asset innovation in the Asia-Pacific region.