21-3-2025 – American digital currency exchange behemoth Coinbase Global Inc. has secured registration with the nation’s Financial Intelligence Unit, marking a significant shift in the country’s approach towards digital assets.
The move comes amidst a broader reassessment of India’s cryptocurrency policies, with Economic Affairs Secretary Ajay Seth acknowledging the need to recalibrate their stance. “The past year has witnessed substantial shifts in multiple jurisdictions’ positions, necessitating a fresh examination of our prepared discussion paper,” Seth remarked.
Bitcoin, the flagship cryptocurrency, demonstrated modest volatility, trading at $84,681.52 with a market capitalisation of $1.68 trillion. Trading volumes experienced a notable decline of 27.48%, settling at $26.36 billion, according to CoinMarketCap data.
The registration of major cryptocurrency exchanges signals a potential watershed moment for India’s digital asset ecosystem. Following in the footsteps of industry giants Binance, Bybit, and KuCoin, Coinbase’s strategic manoeuvre suggests growing confidence in India’s evolving regulatory framework.
A Coinbase spokesperson revealed ambitious plans for the subcontinent, stating their intention to establish a retail trading platform and boost investment initiatives across India. This development arrives as the nation grapples with adapting its regulatory approach amid shifting global cryptocurrency dynamics.
Industry analysts suggest that the delay in India’s cryptocurrency consultation document reflects a measured approach, taking into account worldwide trends and technological progress in digital currencies. This cautious stance could potentially yield more accommodating policies, paving the way for increased foreign capital inflow into India’s burgeoning digital asset sector.
The timing of these developments proves particularly significant, as India’s cryptocurrency landscape appears poised for transformation, influenced by international policy shifts and growing institutional interest in digital assets.
