Crypto Exchange Coinbase (Coin) holds talks with the Indian authorities in order to obtain approval to return to the country he resigned in 2023, Tech Crunch reported on Wednesday.
The exchange is in talks with regulators, including the Financial Intelligence Unit (FIU), said Tech Crunch, citing two people familiar with the issue.
“Coinbase is excited by opportunities on the Indian market and intends to comply with the applicable regulatory requirements, but we have nothing to announce concerning a CRF [Financial Intelligence Unit] Recording at that time, “a spokesperson for the American company in Coindesk said.
Coinbase suspended operations in India in 2022, a few days after starting due to the “informal pressure” of the Bank of India reserve. In 2023, the exchange said that he had ceased to authorize user registrations, but continued to offer his Coinbase portfolio to citizens in India and added that he “would explore the means to strengthen” his presence in the country.
The company joins other Crypto exchanges by seeking to establish or restore a presence in the most populous country in the world. Binance, the largest negotiated volume scholarship registered with the CRF last year after paying a fine of $ 2.2 million for operation without authorization. Bybit, classified n ° 2 on Coingecko, recorded after paying a fine of $ 1 million.
