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    <p><a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> says it’s still dedicated to its exchange business in India despite disabling new user <a rel="noopener noreferrer nofollow" title="sign-ups" href="https://thebittimes.com/tag/sign-ups.html">sign-ups</a> in the country three months ago.</p> 
    <p>The company has also moved to reassure Indian users about the exchange’s future after a number of customer emails seemed to suggest that the company might be shuttering its operations in the region.</p> 
    <p>A number of Indian users reportedly received messages from the exchange informing them that they had until later this month to move their funds before Coinbase halts its services.</p> 
    <p>However, the US-based company has since pointed out that these emails were <strong>specifically addressed to “some customers who didn’t meet the company’s updated standards”</strong> and that “the message was not representative of <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a>’s India operations,” (via TechCrunch).</p> 
    <p>In a statement, a Coinbase spokesperson said: “We stopped allowing new user sign-ups on our exchange product in India back in June of this year. We maintain a robust tech hub in the country and offer live products, including our Coinbase Wallet.</p> 
    <p>“We are committed to India over the long term and continue to explore ways to strengthen our presence in this important market.”</p> 
    <p><em>Read more: Coinbase tells SEC it no longer thinks crypto is the future of finance</em></p> 
    <h2 class="wp-block-heading" id="h-coinbase-in-india-started-badly-and-got-worse">Coinbase in India started badly and got worse</h2> 
    <p>Since launching in India in April last year, <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> has found making inroads into the country heavy going.</p> 
    <p>Shortly after launch, despite <a rel="noopener noreferrer nofollow" title="Coinbase" href="https://thebittimes.com/tag/coinbase.html">Coinbase</a> boasting about how easy it would be to trade on its app using Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) — the organization that governs payment processing in the country — tweeted to clarify that it had no record of any <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> exchange doing so.</p> 
    <p><strong>As a result, the exchange suspended its operation</strong>.</p> 
    <p>Speaking at the time, a source close to the matter told CoinDesk, “What Armstrong and Coinbase don’t get is that in India, RBI (the Reserve Bank of India, which oversees the NPCI) is the all-mighty in the financial world and you can’t just come in and do whatever the hell you want whoever you may be and not expect backlash.”</p> 
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.</em></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-denies-india-closure-despite-blocking-sign-ups-and-warning-users-tbt62280.html">https://thebittimes.com/coinbase-denies-india-closure-despite-blocking-sign-ups-and-warning-users-tbt62280.html</a></p>

Coinbase denies India closure despite blocking sign-ups and warning users

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