1. Home
  2. coinbase india

coinbase india

Coinbase responds to reports suggesting it’s ceasing services in India

A Coinbase spokesperson cleared some of the confusion after a circulating rumor suggested that it would be shuttering all services for Indian customers.

Coinbase has provided information that seemingly contrasts a media report suggesting that it would soon halt all operations for its Indian customers.

According to a Sept. 11 report from TechCrunch, Coinbase India users were reportedly warned via email that all services would be discontinued by Sept. 25, and were urged to to remove any funds that remained on the exchange.

However, it is understood that the notice was not aimed at all Indian customers and was instead aimed at those breaching the exchange's standards. 

"We are reaching out to inform you that we will be discontinuing all Coinbase Retail services linked to your above-mentioned account, as we will be disabling access for the retail accounts that no longer meet our updated standards for these services," according to an email on Sept. 8, shared by a Coinbase spokesperson to Cointelegraph.

"It is possible that during the course of a recent routine review of our systems, some accounts may have been identified that no longer meet our updated standards. We will therefore be disabling these accounts, and allow customers to update their information at a later date," the spokesperson added.

"Affected users’ funds remain safe with us, and they continue to be able to withdraw their balances and send to other crypto service providers until 25 September."

Meanwhile, Coinbase has prevented Indian users from signing up to its exchange, instead prompting them to download its wallet application, Coinbase Wallet.

Despite a strong push from the largest U.S.-based cryptocurrency exchange, which saw its venture capital arm Coinbase Ventures, invest millions into the local sector — it has struggled to gain favor with the authorities.

On April 11 last year, Coinbase halted payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the South Asian subcontinent, due to pressure from local regulators.

This is a developing story, and further information will be added as it becomes available.

Magazine: NFT collapse and monster egos feature in new Murakami exhibition

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Binance Sees Record Increase in Indian Users After Government Starts Imposing New Crypto Tax

Binance Sees Record Increase in Indian Users After Government Starts Imposing New Crypto TaxThe number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect. Binance Sees Record Number of Indian Users The number of Indian user sign-ups […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Crypto Exchange Coinbase Halts Service in India Due to ‘Informal Pressure’ From Central Bank RBI

Crypto Exchange Coinbase Halts Service in India Due to ‘Informal Pressure’ From Central Bank RBIThe Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India Coinbase Global provided an update on its Indian operation during the company’s earnings […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Crypto Exchange Coinbase Launches in India — Quickly Runs Into Trouble With UPI Payment System

Crypto Exchange Coinbase Launches in India — Quickly Runs Into Trouble With UPI Payment SystemCryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support. However, moments later, the National Payments Corporation of India (NPCI), which developed UPI, stated that no crypto exchange is using the UPI system. Coinbase Launches in India, Hit With UPI Problem The Nasdaq-listed cryptocurrency exchange […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Coinbase Focuses on Crypto and Web3 in India — Plans to Hire 1,000 for Indian Hub

Coinbase Focuses on Crypto and Web3 in India — Plans to Hire 1,000 for Indian HubCoinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong. Coinbase Expanding in India With Web3 and Crypto Push The Nasdaq-listed cryptocurrency exchange Coinbase revealed its plan […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Coinbase to Improve Customer Support in US and India by Acquiring AI Platform Agara

Coinbase to Improve Customer Support in US and India by Acquiring AI Platform AgaraCoinbase is acquiring an AI-powered support platform Agara in an effort to deliver “world-class support for customers.” The exchange explained that “Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options.” The acquisition also reconfirms Coinbase’s strategy to build out its tech hub in India. Coinbase to […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Coinbase Actively Building Crypto Hub in India, Looking to Hire ‘Hundreds’ of People

Coinbase Actively Building Crypto Hub in India, Looking to Hire ‘Hundreds’ of PeopleThe Nasdaq-listed cryptocurrency exchange Coinbase is actively building a cryptocurrency hub in India. The company says it has “ambitious plans” for the South Asian crypto hub and is looking to hire for many positions, including hundreds of engineers. Coinbase Has ‘Ambitious Plans’ for Its Indian Crypto Hub Coinbase published a blog post on Friday, authored […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Coinbase Opens Office in India Despite Crypto Ban Reports

Coinbase Opens Office in India Despite Crypto Ban ReportsCryptocurrency exchange operator Coinbase has announced that it is establishing a business presence in India. The company has also posted several job openings for its Indian operations despite reports that the government may ban cryptocurrencies. Coinbase Sets up Shop in India Coinbase has officially announced its expansion into India. The company said last week: We’re […]

Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody