Coinbase relaunches in India with direct rupee deposits and trading
Coinbase has resumed operations in India, enabling direct Indian rupee (INR) deposits and withdrawals via the IMPS system. Users can now trade spot and perpetual futures on dedicated INR order books. This follows Coinbase’s registration with India’s Financial Intelligence Unit, reversing its 2022 suspension. Despite India’s high 30% crypto tax, the exchange cites strong developer talent and blockchain adoption. The rollout is gradual, with some users facing temporary restrictions.
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Coinbase Launches INR Deposits and Withdrawals in India After FIU Approval
Coinbase has officially launched direct Indian rupee (INR) deposits and withdrawals in India, allowing users to transfer funds between bank accounts and the exchange via the Immediate Payment Service (IMPS). This expansion follows Coinbase's registration with India's Financial Intelligence Unit (FIU-IND), ensuring compliance with local regulations for virtual digital asset service providers. Indian users can now access spot trading, perpetual futures, and professional trading tools, including local INR order books and institutional-grade APIs. The rollout is gradual, with some users reporting 'Buys not supported' notifications after KYC. This marks Coinbase's second attempt in India after its 2022 UPI launch was suspended within days due to objections from the National Payments Corporation of India. Despite India's strict crypto tax regime (30% tax on gains), Coinbase is deepening its commitment, citing India's growing developer ecosystem and blockchain adoption.
Yahoo FinanceCoinbase Launches Direct Indian Rupee Deposit and Withdrawal Rails
Coinbase has launched direct Indian rupee (INR) banking rails in India, routing deposits and withdrawals through the country's Immediate Payment Service (IMPS). This eliminates the need for peer-to-peer intermediaries and simplifies onboarding for local users. The exchange established dedicated INR order books, allowing direct rupee trading without stablecoin conversions, and rolled out perpetual futures contracts for major cryptocurrencies. Coinbase's Regional Managing Director for APAC, John O'Loghlen, stated the firm is committed to the Indian market for the long term. The move follows Coinbase's registration with India's Financial Intelligence Unit and marks a reversal from its troubled 2022 launch, when UPI support was suspended. India remains the global leader in crypto adoption for the third consecutive year, with a market projected to grow from $3.04 billion in 2025 to $14.21 billion by 2034, despite a high 30% tax on crypto gains.
Yahoo FinanceCoinbase Exchange Relaunches in India with Direct INR Bank Rails
Coinbase has resumed operations in India, this time with direct INR bank rails via IMPS, allowing users to deposit and withdraw Indian rupees directly from their bank accounts. This marks the exchange's first fully functional fiat integration since its original 2022 launch collapsed within days. The re-entry includes spot trading, perpetual futures, and dedicated INR order books with zero-fee deposits. Coinbase registered with India's Financial Intelligence Unit (FIU-IND) in 2025, a key regulatory step. The article analyzes whether regulated exchange access makes crypto safer for Indian retail investors or merely easier, contrasting the new direct banking system with the previous peer-to-peer system that exposed users to fraud-linked funds and account freezes (scam-marking).
Yahoo FinanceCoinbase Opens Direct INR Deposits for Indian Users
Coinbase has launched direct Indian rupee (INR) deposits and withdrawals for users in India, enabling bank-to-exchange transfers without intermediaries. The rollout is gradual, with some users reporting a 'Buys not supported' prompt. The exchange uses the IMPS system instead of UPI, sidestepping the regulatory friction that forced a 2022 shutdown after RBI pressure. Coinbase also introduced spot trading and perpetual futures with a local INR order book. The move comes amid India's heavy crypto tax regime (30% on gains, 1% TDS), which has pushed trading volume offshore. Despite this, India leads globally in grassroots crypto adoption, and the market is projected to reach $14 billion by 2034.
Yahoo FinanceCoinbase enables Indian rupee trading for crypto in India
U.S.-listed cryptocurrency exchange Coinbase has announced that users in India can now trade using the Indian rupee, marking a significant expansion in Asia's third-largest economy. Customers can deposit and withdraw rupees via the immediate payment service channel, and access spot trading and perpetual futures contracts for major crypto assets. Coinbase had discontinued its services in India in 2023 but resumed crypto trading last year after registering with the Financial Intelligence Unit. India requires crypto exchanges to comply with anti-money laundering rules and levies a 30% tax on crypto trading gains, among the highest globally, though it has yet to outline comprehensive regulations for the asset class. John O'Loghlen, Coinbase's regional managing director for Asia Pacific, highlighted India's importance in terms of developer talent, trading activity, and blockchain adoption.
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