Coinbase now supports direct Indian Rupee (INR) transfers via IMPS, letting users deposit and withdraw without P2P risks. Spot, perpetual futures, and local order books are live. Rollout is gradual.
India's FIU-IND annual report reveals 49 crypto exchanges registered under AML laws, with total penalties of ₹28 crore ($3.37M). Binance fined ₹18.82 crore, Bybit fined ₹9.27 crore. India opts for strict compliance over ban, attracting global platforms despite penalties.
Coinbase has added direct INR deposits and withdrawals in India through IMPS, giving users a bank-linked way to access spot trading, perpetual futures, and local INR order books.
India's Parliamentary Standing Committee on Finance met Binance, WazirX, and ZebPay today for a closed-door hearing on virtual digital asset regulation, with hopes for a 'Crypto Tax 2.0' reform.
Coinbase rolls out direct INR transfers in India, enabling IMPS-based instant deposits and withdrawals, alongside spot and perpetual trading with local order books, after FIU-IND registration.
Binance still lacks direct INR spot pairs despite FIU-IND registration. The key hurdles are banking integration and RBI rules. Watch for bank partnerships, TDS cuts, and SEBI circulars in 2026 as potential triggers.
India attracted $340 billion in crypto inflows from June 2024 to June 2025, per OECD, ranking first in Asia. Despite harsh taxes, the country has 119M crypto users. On July 2, Parliament quizzed the RBI on crypto policy for the first time. Three regulatory paths lie ahead.
FIU-IND orders exchanges to disclose OTC deals over $10K and trace beneficial owners; ED raids five crypto firms in Bengaluru; Binance mandates full sender/receiver details. 30% crypto tax remains.
