Lucky ali here and do you know guys Indian market is the big crypto market so it is very important that good developments happen in Indian crypto economy. After a long time, this is good news for Coinbase because it is officially launching in India and it is happening because it is receiving FIU approval to offer cryptocurrency trading in one of the world’s fastest-growing markets and that is india.
Coinbase Receives Regulatory Approval To Operate In India
Cryptocurrency exchange Coinbase has registered with India’s Financial Intelligence Unit (FIU) and this approval is allowing this crypto firm to provide crypto trading services legally in india. Coinbase Announcing this milestone on social media platform on March 11, Coinbase said:
We have received approval to launch in India.
The coinbase crypto company highlighted the Indian market's potential, saying: "India embodies one of the world's most dynamic markets for digital currency, tech startups, and on-chain innovation." The financial intelligence unit registration allows this crypto firm to expand its offerings and also it plans to launch retail services later in 2025.
The coinbase firm reiterated its commitment to compliance, saying: "We have registered with India's FI and this particular approval allows us to offer cryptocurrency trading services. This is another important step in our international expansion strategy and the milestone reinforces our commitment to compliance ."
Do you know? India’s rapid growth as a startup hub and global technology has made it an attractive destination for Coinbase’s expansion efforts and I know there are some problems in the country because the country is not well appreciating new technology crypto but in the future, we can expect something positive. The coinbase exchange highlighted this prominently in a March 11 press release: “Coinbase’s registration with India’s Financial Intelligence Unit is an important milestone in our international expansion strategy and this is going to help us to spread our crypto wings in india also It enables us to offer and improve cryptocurrency trading services in India.” The coinbase crypto exchange added:
We plan to launch our initial retail services later this year, followed by more investments and product introductions in India.
Strengthening engagement in United States-India economic relations
Coinbase doing many things already and In addition to regulatory approval, It is actively strengthening its engagement in United States-India economic relations. An interesting thing is Coinbase's Chief Legal Officer whose name is Paul Grewal so he recently joined the board of the United States-India Business Council which is also called USIBC, reflecting Coinbase's commitment to promoting cooperation between the two countries.
Here coinbase should suggest to the Indian government to reduce the crypto taxation so that technology like crypto can grow freely. It can suggest following the US because What the US did is a tremendous thing. Accepting technology early is most important thing. What is your point of view regarding this please let me know in the comment section.
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