Ah, the enigmatic dance of cryptocurrency and regulation! Coinbase, the largest cryptocurrency exchange in the United States, has once again set its sights on the exotic land of India. After a brief and rather dramatic fling in 2023, the exchange has now been granted regulatory approval from the FIU, much to the delight of digital currency enthusiasts.
You see, dear reader, Coinbase first dipped its toes into the Indian market with a UPI-enabled crypto purchase service in April 2022. Alas, the honeymoon was short-lived, as the company was forced to cease its crypto-buying operations just a few days later due to regulatory pressure.
But fear not, for the phoenix known as Coinbase has risen from the ashes of its previous Indian escapade! Users can now transfer existing cryptocurrencies between their accounts, although the thrill of peer-to-peer trading has been lost in the shuffle. 😒
In a twist worthy of a Wildean play, the director responsible for Coinbase’s Indian market expansion has since joined the executive team at Uber. One can only imagine the delightful tête-à-tête between these two corporate behemoths. 🚗💼
Meanwhile, as Coinbase dusts off its dancing shoes, multiple Indian cryptocurrency exchanges find themselves grappling with diminished trading volumes due to tax regulations in the market. Ah, the sweet irony of it all! 😜
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2025-03-11 15:00