Coinbase, one of the largest cryptocurrency exchanges globally, is relaunching its operations in India, allowing the buying and selling of Bitcoin under strict financial regulations.
Coinbase's Journey in India
In 2022, Coinbase attempted to enter the Indian crypto market but faced unclear regulatory requirements and compliance concerns. Now, with clear regulations and official registration with India’s Financial Intelligence Unit (FIU), Coinbase is making a second attempt at the market.
A New Era of Crypto Trading
The launch of Coinbase has implications for the future evolution of digital assets in India. Recent initiatives, such as DexBoss, will support decentralized trading, offering more advanced tools using blockchain technology.
Regulations and Tax Policies
The Indian government has set strict conditions for cryptocurrency transactions: a 30% tax on crypto gains and a 1% tax deducted at source (TDS) on all crypto transactions.
Coinbase's return to the Indian market marks a significant step in the development of the cryptocurrency industry, potentially influencing further innovation and growth in the sector.
