Coinbase intends to return to India after being forced to shut down its operations in the country over a year ago.
According to TechCrunch, Coinbase has met with several authorities in India, including the Financial Intelligence Unit (FIU), a government agency that oversees financial transactions.
Coinbase’s previous attempts to establish crypto services in the country have been unsuccessful, including a 2022 integration with the India’s United Payments Interface (UPI) instant payments service, which was suspended after just three days. The service was halted because the National Payment Corporation of India stated that it did not recognize the legal standing of any crypto exchanges using UPI.
A year later, Coinbase was forced to pause all operations in India due to regulatory issues. Coinbase CEO Brian Armstrong later said that the crypto exchange had faced “informal pressure”…
