Coinbase Global Inc. has registered with India’s Financial Intelligence Unit (FIU), allowing it to offer cryptocurrency trading services in the country.

The US-based exchange plans to launch a retail trading platform in India later this year, along with additional investments and product offerings.

This marks Coinbase’s second attempt to enter the Indian market after briefly enabling crypto purchases via UPI in 2022 before suspending the service due to regulatory concerns.

India remains a challenging market for crypto exchanges due to its strict tax framework, including a 30% tax on digital asset income and a 1% Tax Deducted at Source (TDS) on transactions, which have impacted trading volumes.

Coinbase will join other exchanges, such as Binance, Bybit, and KuCoin, in registering with India’s FIU to navigate regulations.

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