Coinbase Reopens Registrations in India After Two-Year Freeze, Plans Fiat On-Ramp in 2026

• Coinbase has reopened registrations in India after more than two years, allowing crypto-to-crypto trading again.
• The company plans to introduce a full fiat on-ramp in 2026, marking its first major push back into the Indian market since shutting operations in 2023.
• The relaunch follows Coinbase’s registration with India’s Financial Intelligence Unit, even as high taxes and strict rules continue to shape the country’s crypto landscape.
• Coinbase says it aims to rebuild trust and scale local hiring, positioning India as a key long-term market.

Coinbase is reopening its doors to Indian users after more than two years of regulatory friction. This marks the exchange’s most deliberate re-entry into the country since shutting down operations in 2023. The company confirmed at India Blockchain Week (IBW) that registrations are live again, with crypto-to-crypto trading supported immediately and a full fiat on-ramp planned for 2026.

The move reverses a long stretch of uncertainty that began in April 2022, when the National Payments Corporation of India publicly distanced itself from Coinbase. It forced the exchange to halt UPI support just days after its India launch. By 2023, Coinbase had entirely off-boarded Indian users, citing the need for clarity on compliance.

Speaking at IBW, John O’Loghlen, Coinbase’s APAC director, described the reset as intentional rather than reactive. He noted that the company chose to “burn the boats”. It decided to remove all legacy Indian accounts to restart under a structure that aligns fully with domestic oversight.

The turning point came as Coinbase engaged with the Financial Intelligence Unit (FIU) and registered with the agency earlier this year. That compliance step allowed the firm to begin onboarding users through early access in October, before opening the app broadly this week.

Coinbase’s return comes at a complex moment for India’s digital-asset economy. India’s 30% tax on crypto income and 1% TDS on every trade continue to constrain the market. It pushes much of the activity offshore, even as grassroots adoption rises and the developer base expands.

ALSO READ: India’s Crypto Transactions Cross ₹51,000 Cr in FY25

O’Loghlen acknowledged the burden, saying the company hopes policymakers eventually recalibrate taxation to avoid penalizing compliant users and to sustain domestic participation. Still, Coinbase is signaling a long-term commitment to the market. Coinbase recently invested in CoinDCX at a $2.45 billion valuation and plans to expand its 500+ employee base in India.

Rebuilding trust and ease of use will be central to that strategy. “We want to be known as that trusted exchange,” O’Loghlen said. He emphasized that Indian users expect an onboarding experience comparable to mainstream apps such as Flipkart or Zepto.

A fully operational fiat on-ramp next year would mark Coinbase’s first direct payments integration in India since 2022. It would be a development that could reshape the competitive landscape if compliance and taxation headwinds ease.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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