🐘 India🇮🇳: Coinbase🇺🇸 secures FIU registration

🐘 India🇮🇳: Coinbase🇺🇸 secures FIU registration

Coinbase has received approval from India’s Financial Intelligence Unit (FIU-IND), allowing it to expand its operations in the country. The exchange is expected to launch its first retail services in India later this year, followed by new investments and products.

➡️ Context: India has emerged as a key hub for blockchain development, increasing its share of the global developer base from 3% in 2018 to 12% in 2023. Additionally, Coinbase’s Chief Legal Officer has been appointed to the Board of Directors of the U.S.-India Business Council (USIBC), further strengthening the company’s presence in the region.

➡️ Market growth: It is estimated that India’s cryptocurrency market will reach $6.4 billion USD in 2024, with 7.35% of the population using crypto assets.

➡️ About FIU-IND: It is the Financial Intelligence Unit under the Ministry of Finance, responsible for collecting, analyzing, and reporting suspicious financial transactions.

#news #crypto #India #USA

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