Here\'s Why Coinbase Steered Away From India (And What\'s Next)
Coinbase\'s journey in India has been a rollercoaster. You might be asking, "Why did Coinbase, a major global crypto exchange, seemingly disappear from the Indian market?" Let\'s break down the factors that led to Coinbase steering away from India, and what the future might hold.
Early Hopes and the Initial Launch: Coinbase dived into the Indian market back on April 7, creating significant buzz. The promise of a streamlined platform for Indian users to engage with cryptocurrency was met with enthusiasm. However, this initial excitement was short-lived.
The UPI Hurdle: Soon after its launch, crypto exchanges were urged to disable UPI payments. This was one of the most extensively used payment methods in India, and its removal presented a significant barrier to entry for many users. This restriction severely hampered Coinbase\'s ability to onboard new customers and facilitate transactions.
Discontinuing Exchange Services: In a significant move, Coinbase, has announced its decision to discontinue all exchange services for users in India. This came after an 18-month-long effort to establish a foothold in the country. The challenges proved too significant to overcome in the short term.
Why the Halt? A Combination of Factors: While the UPI payment issue was a major roadblock, several other factors contributed to Coinbase\'s decision to pull back. Regulatory uncertainty surrounding cryptocurrency in India, coupled with the already restrictive tax regime, created a difficult environment for crypto exchanges to operate in.
Coinbase Intends to Return: The story doesn\'t end there. Coinbase intends to return to India after being forced to shut down its operations in the country over a year ago. According to TechCrunch, Coinbase has met with 11 de sept. de 2025, signaling a continued interest in the Indian market. This suggests that Coinbase is actively working to address the regulatory and logistical challenges that led to their initial departure.
Looking Ahead: The future of Coinbase in India depends on several factors. Clarification and more favorable regulations regarding cryptocurrency are crucial. Furthermore, the availability of accessible and convenient payment methods, beyond UPI, will be vital for successful re-entry. While the road ahead may be challenging, Coinbase\'s continued interest suggests they see long-term potential in the Indian crypto market.