Coinbase is expanding its footprint in India, now allowing users to deposit and withdraw rupees through the immediate payment service channel. The exchange resumed crypto trading last year after registering with India's Financial Intelligence Unit, following a suspension in 2023.
Customers can engage in spot trading across a range of crypto assets and access perpetual futures contracts. "India has long been one of the most important markets in crypto," said John O’Loghlen, Coinbase's regional managing director for Asia Pacific, citing developer talent, trading activity, and blockchain adoption.
India imposes a 30% tax on crypto trading gains, one of the highest globally, and requires exchanges to comply with anti-money laundering rules. Clear regulations for the asset class remain pending.