Coinbase, a major American crypto exchange, is working on re-entering the Indian market after stopping activities more than a year ago. The company is concerned with Indian supervisors to guarantee compliance, since the government is restoring its position towards the crypto policy.
Coinbase in conversations with the Indian authorities
According to sources, Coinbase is in conversation with the Indian authorities, including the Financial Intelligence Unit (FIU), which monitors financial transactions. The company is aimed at complying with the legal requirements and is optimistic about its return.
A spokesperson for Coinbase stated: “We are enthusiastic about the opportunities in India and are committed to complying with local regulations.”
Coinbase’s renewed interest in India is part of its greater global expansion plans. The Chief Legal Officer, Paul Grewal, recently joined the Board of Directors of the American Business Council, which strengthens the ties between the two countries in the financial sector.
Credit : coinpedia.org
