Coinbase returns to India after FIU

Coinbase, the largest exchange of cryptocurrencies from us is scheduled to return to India by resuming its operations after a two -year gap. Coinbase was recently registered with the Financial Intelligence Unit (FIU), allowing it to provide legal trading services in the country.

The company announced on Tuesday that it plans to launch retail services later this year, followed by more investments and new products offers. However, it has not provided a precise schedule yet.

Coinbase returns to its return at a time when the coded currency in India is the highest level ever. Many young investors are trying their hands in digital assets, hoping to have additional income. Other major encryption platforms such as Coindcx, Binance and Kucoin are already in the country and attracting an increasing user base.

“India is one of the most exciting market opportunities in the world today, and we are proud to deepen our investments here in the full compliance with local regulations,” He said John Olujen, Managing Director of Coinbase Regional Company for the Pacific Ocean.

In India, FIU must be recorded and tracking the anti -money laundering rules. However, the government did not set clear encryption laws. Moreover, traders face a 30 % high tax on profits, which is one of the highest rates in the world.

The way the Indian government seems to see its encryption, especially because of global trends and Donald Trump’s victory in the recent elections in the United States. Some leaders in India hint that the country has updated its encryption policies based on what is happening around the world.

With Coinbase to return to India, encryption traders can soon have more options, better ways of trading, and perhaps even clearer rules to follow.

Also read: Bybit resuming trading services in India after organizational approval