Coinbase Reopens in India After Two-Year Regulatory Hiatus, Plans Fiat On-Ramp for 2026

Coinbase has officially resumed onboarding users in India after a more than two-year absence, marking a significant return to one of the world's largest crypto markets. According to reports from TechCrunch, the U.S.-based exchange reopened its app to Indian users through an early-access program in October 2025 and has now made registrations fully available to the public.

The reopening follows Coinbase's successful registration with India's Financial Intelligence Unit (FIU) earlier this year, a crucial step to comply with the country's anti-money laundering (AML) regulations. This registration "paved the way for Coinbase's reopening," according to The Block.

Currently, Indian customers on Coinbase can only conduct crypto-to-crypto trades. However, during India Blockchain Week, Coinbase APAC Director John O'Loghlen announced plans to launch a full fiat on-ramp in 2026, which will allow users to deposit local currency and purchase cryptocurrency directly.

Coinbase's initial foray into India was short-lived. The exchange launched in the country in April 2022 but was forced to disable support for India's popular Unified Payments Interface (UPI) just days later after the National Payments Corporation of India (NPCI) refused to recognize its operations. By September 2023, Coinbase had halted all services for local users and instructed them to close their accounts.

"We previously had millions of customers in India, and we decided to completely remove those customers from overseas entities where they were based and regulated. We wanted a fresh start here," O'Loghlen explained, acknowledging the difficult decision for a company focused on growth.

The return is part of a broader expansion strategy. In October 2025, Coinbase announced an investment in local crypto exchange CoinDCX, which is now valued at $2.45 billion. The company also plans to grow its existing workforce of over 500 employees in India.

Despite the bullish re-entry, challenges remain. India imposes a 30% tax on crypto earnings (including losses) and a 1% Tax Deducted at Source (TDS) on every transaction. O'Loghlen expressed optimism that the government may reduce these tax burdens to encourage adoption. India continues to be a vibrant crypto market, ranking first in global crypto adoption for three consecutive years according to a TRM Labs report.

Coinbase's move aligns with a trend of other global exchanges returning to India. Bybit restored full app access in September 2025, and Binance re-entered in August 2024 after paying a $2.25 million penalty.