Crypto exchange Coinbase (COIN) is holding talks with Indian authorities in an effort to secure approval to return to the country it quit in 2023, Tech Crunch reported on Wednesday. The exchange is in talks with regulators including the Financial Intelligence Unit (FIU),

Coinbase, one of the largest cryptocurrency exchanges in the US, is making strategic moves to re-enter India after more than a year of regulatory hurdles, as per a TechCrunch report. The company, which previously halted its operations in the country,

Coinbase reportedly plans to re-enter India after over a year away and is already engaging with key regulators.

The crypto exchange is in discussions with Indian regulators, such as the Financial Intelligence Unit, to secure the necessary approvals for a relaunch, a source familiar with the matter told Decrypt.

Coinbase's interest in re-entering India comes in line with its broader international expansion strategy, CFO Alesia Haas said at a recent Goldman Sachs conference. Although India is a critical market for US tech firms, the cryptocurrency sector in the country is still relatively small.

Coinbase is working on re-entering the Indian market after ceasing operations over a year ago, and is engaging with Indian authorities to secure necessary approvals, TechCrunch reported on Thursday, citing people familiar with the matter.

Coinbase reportedly plans to return to the Indian market this year. The company is said to have already contacted India’s regulators, such as the Financial Intelligence Unit. Coinbase entered the Indian market in 2022 before suspending its operations three days later.

Coinbase is planning to re-enter the Indian market after a year-long exit, engaging with authorities like the FIU.