Coinbase is preparing to re-enter the Indian market after halting operations over a year ago.

The company is reportedly engaging with Indian authorities, including the Financial Intelligence Unit (FIU), to obtain necessary licenses.

Its previous attempt in April 2022 failed after the National Payments Corporation of India did not recognized its Unified Payments Interface (UPI).

CEO Brian Armstrong cited “informal pressure” from the Reserve Bank of India as a key reason for the suspension.

The Indian cryptocurrency market remains challenging, with a 30% tax on crypto income and a 1% transaction deduction.

A spokesperson for Coinbase confirmed its intent to comply with regulations but did not disclose specifics about the FIU registration process.

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