Coinbase Reopens User Onboarding in India as It Reenters the Market

Coinbase has officially resumed onboarding users in India after more than two years, marking its first major step back into a market it exited in 2023 due to regulatory complications. The crypto exchange is now allowing new user registrations and crypto-to-crypto trading, with plans to restore fiat on-ramps next year, according to APAC director John O’Loghlen during India Blockchain Week.

The company’s return follows a lengthy standoff that began in 2022 when Coinbase launched in India with support for the Unified Payments Interface (UPI). The feature was removed just days later after the network operator distanced itself from the exchange, leading to heightened regulatory scrutiny. By 2023, Coinbase halted services entirely, off-boarded millions of Indian users, and ceased local access while re-evaluating compliance risks.

To rebuild trust with regulators, Coinbase adopted a “clean slate” strategy. The exchange began working directly with India’s Financial Intelligence Unit (FIU), which oversees digital asset oversight and compliance. Coinbase completed FIU registration earlier this year and quietly rolled out an early-access program in October. With the program concluded, the app is now open to all Indian users, though current trading options remain limited to crypto pairs until fiat payment channels are reinstated.

India continues to be one of the most challenging markets for global exchanges due to strict tax policies, including a 30% flat tax on crypto gains, a ban on offsetting losses, and a 1% transaction deduction that has significantly dampened trading activity. Despite these barriers, Coinbase is deepening its investment in the region. Its venture arm recently increased its stake in CoinDCX at a valuation of $2.45 billion, and the company plans to expand its workforce of more than 500 employees across India to support both local and global product development.

Coinbase’s renewed presence signals confidence in India’s long-term crypto potential, even amid regulatory uncertainty.