India’s competition regulator has cleared Coinbase to expand its involvement in the country’s cryptocurrency sector, signalling cautious regulatory openness.
The approval enables the US-based crypto exchange to solidify its ties with a leading local platform.
CCI clears minority investment in CoinDCX
According to a press release, the Competition Commission of India (CCI) approved Coinbase’s plan to acquire a minority stake in CoinDCX, according to a statement dated December 16.
Coinbase Global will invest in DCX Global Limited, the parent company of CoinDCX, after competition regulators completed their review, as the exchange simultaneously reopened its India app registrations following a two-year hiatus.
On December 17, Coinbase chief legal officer Paul Grewal addressed the approval on X. He described the clearance as progress that builds on the exchange’s “long-term partnership with one of India’s most established and trusted digital asset platforms.” He, however, did not disclose the size of the stake.
Neither the CCI nor Coinbase revealed financial terms, although the investment has been valued at about $2.01 billion, though the exact shareholding remains undisclosed.
Notably, the approval follows Coinbase’s mid-October disclosure that it planned to invest further in CoinDCX.
Coinbase has held an investor position in CoinDCX since 2020, and the latest capital infusion signals a renewed commitment to India after Coinbase reopened user registrations last week.
India remains a challenging market for crypto companies, with high transaction taxes weighing on retail activity, and regulatory clarity remaining limited despite growing adoption.
Coinbase’s renewed push comes after a volatile year for CoinDCX. In July, CoinDCX disclosed a $44.2 million security breach involving one of its wallets.
Coinbase’s Asia-Pacific director, John O’Loghlen, said the company has restarted onboarding with crypto-to-crypto trading. He added that Coinbase plans to introduce a rupee on-ramp in 2026. The timeline reflects the firm’s cautious approach to local compliance.