News Summary

Coinbase, the global cryptocurrency exchange, has restarted its operations in India after a two-year hiatus. The company is now allowing crypto-to-crypto trades and plans to introduce a fiat on-ramp by 2026. Initially launched in India in 2022, Coinbase had to suspend its services due to regulatory challenges, including issues with the Unified Payments Interface (UPI) payment network. Despite the regulatory hurdles and high taxation on cryptocurrency trading in India, Coinbase remains optimistic about the market. The company has registered with the Financial Intelligence Unit (FIU) and is ramping up its operations by hiring for various roles. Coinbase has also invested further in local exchange CoinDCX, indicating its commitment to the Indian market.