Coinbase has resumed operations in India after stepping away from the market for more than two years, marking a major re-entry into one of the world’s most complex regulatory environments. The U.S. crypto exchange has restored access for Indian users, beginning with crypto-to-crypto trading while preparing a full fiat on-ramp that will allow direct deposits in rupees by 2026. The long-term plan signals that Coinbase is prepared to operate under India’s strict compliance requirements and rebuild trust with millions of former users.
The company’s return was confirmed at the India Blockchain Week event, where Coinbase’s APAC director, John O’Loghlen, spoke about the exchange’s decision to reboot operations only after completing the necessary registration with the Financial Intelligence Unit earlier in the year. O’Loghlen highlighted that Coinbase previously made the difficult choice to off-board all Indian users, ensuring a complete separation from earlier operational challenges. With the new regulatory clearance, he emphasised that the company is starting fresh and intends to commit to the Indian market in a structured, compliant way.
Coinbase initially entered India in 2022 with strong momentum, but quickly faced hurdles when the National Payments Corporation of India declined to recognise its UPI payments integration. Within days, the company was forced to shut down the feature, and by the following year, it had fully exited the market. The latest reopening follows months of early-access testing beginning in October and the reinstatement of the Coinbase app for all users in the country.
Despite the return, India remains one of the toughest markets globally for cryptocurrency trading. The government continues to enforce a 30 per cent tax on digital asset gains, prohibits loss offsets, and applies a 1 per cent tax deducted at source on every trade, significantly discouraging frequent trading. O’Loghlen acknowledged these obstacles but expressed hope that the government might eventually ease the tax framework, especially as crypto ownership becomes more mainstream.
Coinbase is expanding its existing team of more than 500 employees, who contribute to both Indian and global operations. O’Loghlen noted that improving user experience will be essential to the company’s success, stressing that mainstream adoption relies heavily on simple onboarding, intuitive design, and a strong sense of security for new users.
The exchange’s return also follows a series of strategic investments in India’s crypto ecosystem. Coinbase recently backed CoinDCX, one of India’s largest exchanges, and has sought approval from the Competition Commission of India to acquire a minority stake in its parent company, DCX Global. Meanwhile, Coinbase Ventures has outlined its investment priorities for 2026, spotlighting areas such as decentralised finance infrastructure, specialised trading platforms, real-world asset derivatives, cross-chain proof systems, and the intersection of crypto with artificial intelligence and robotics. These initiatives position India as an important centre of innovation within Coinbase’s global roadmap.
Coinbase’s decision to re-establish a presence suggests that the platform still believes India can support significant crypto adoption despite regulatory challenges. With plans for a rupee fiat channel and a strengthened local team, the company signals its commitment to creating a more seamless and compliant experience for Indian users—potentially setting a model for other global exchanges navigating the market.
