The year 2025 is marking significant shifts in India's cryptocurrency sector with the return of major global exchanges and efforts to revive the local exchange WazirX.
Major Exchanges Return to India
Recently, global crypto exchanges such as Binance, Bybit, and Coinbase have re-entered the Indian market with approval from the Financial Intelligence Unit of India. These moves are driven by regulatory changes that open new opportunities for foreign players.
Why Foreign Exchanges Left Indian Markets
The main troubles for foreign exchanges began in late 2023 when India's Financial Intelligence Unit issued show-cause notices for non-compliance with anti-money laundering rules. These actions sparked fears of possible sanctions, leading to the closure of operations for many large exchanges in India.
Potential Benefits of International Exchange Entry
The return of global exchanges will not only restore user confidence but also attract significant investments into the Indian crypto market. This will help fill the void left by local exchanges like WazirX and BITBNS, which continue facing challenges after recent crises.
The return of exchanges like Coinbase, Binance, and ByBit may signal a shift in the Indian cryptocurrency ecosystem, offering users a broader range of options and restoring trust after the WazirX incident.
