Coinbase has expanded its services in India by enabling users to trade cryptocurrencies using the Indian rupee, marking a significant step in the company’s growth plans for the market.
Users can now deposit and withdraw funds through the country’s instant payment system and access spot trading as well as perpetual futures contracts linked to major digital assets.
The move follows Coinbase’s return to the Indian market after securing the required regulatory registration. India remains a key market for the cryptocurrency industry due to its large developer community, growing adoption of blockchain technology, and active trading environment.
Cryptocurrency exchanges operating in India are required to follow anti-money laundering regulations. While the country imposes a 30% tax on crypto trading profits, a comprehensive regulatory framework for digital assets is still under development.
