- Major crypto players including Coinbase and Binance focus on India.
- Regulatory changes influence market dynamics significantly.
- India’s stance evolving with global crypto policies.
US exchange Coinbase Global Inc. registered with India’s Financial Intelligence Unit to launch its trading platform, joining Binance and others amid potential regulatory changes. This registration signals a major shift as India reassesses its stance on cryptocurrencies, influenced by global policy changes.
The registration reflects a strategic intent by major crypto players like Coinbase to expand their market influence in India amid potential regulatory relaxations. Following similar moves by Binance, Bybit, and KuCoin, these steps suggest a renewed focus by top exchanges on India’s evolving market landscape, influenced by global dynamics.
Crypto Exchanges Eye India as Regulations Shift
Coinbase’s registration with India’s Financial Intelligence Unit indicates strategic intent to expand its market influence amid potential regulatory relaxations. This follows Binance, Bybit, and KuCoin’s similar moves, suggesting renewed focus by top exchanges on India’s market.
India’s evolving policy landscape is evident as global dynamics shift, particularly influenced by the previous pro-crypto stance in the United States. Ajay Seth highlighted changes in jurisdictional positions, driving the need to recalibrate India’s approach. Ajay Seth, of India’s Ministry of Economic Affairs, noted, “Over the past 12 months, multiple jurisdictions have significantly changed their positions. We had prepared a discussion paper, but we now need to recalibrate because of these changes.”
Industry reactions have been cautious yet optimistic. A representative from Coinbase stated, “Coinbase is preparing to launch its retail trading platform in India and increase investments in the country.” pointing to potential shifts beneficial to global players.
India’s Crypto Regulatory History and Price Overview
India first imposed a crypto ban in 2018, which was overturned by the Supreme Court in 2020, marking its initial regulatory stance change.
Bitcoin (BTC) price altered nearly -1.45% over the past 24 hours, currently trading at $84,681.52 on March 21, 2025. The market capitalization of BTC stood at $1.68 trillion. CoinMarketCap data showed that daily trading volume turned by -27.48%, reaching $26.36 billion.
Experts suggest India’s consultation document delay reflects a cautious approach amid global trends and technological advancements in digital currencies, potentially leading to less restrictive policies paving the way for increased foreign investments in the digital asset sector.
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