Remember when Coinbase basically vanished from India overnight back in 2023? One day you could buy Bitcoin with rupees, the next day – poof – the app stopped working and everyone got politely shown the door. It felt like the end of a very short love story between one of the world’s biggest crypto exchanges and the planet’s fastest-growing crypto market.
Fast-forward to December 2025, and guess who’s quietly walking back into the room like nothing ever happened?
That’s right. Coinbase is officially back for Indian users – sort of. And honestly, the way they’ve done it is actually pretty clever.
A Comeback Two Years in the Making
Let’s be real – getting kicked out of India stung. The country had millions of Coinbase users before the great 2023 exodus. Then the National Payments Corporation of India basically said “no thanks” to letting Coinbase use UPI, and that was that. Game over. Accounts frozen, users off-boarded, dreams crushed.
But crypto people are stubborn. And Coinbase? They’re really stubborn.
After registering with India’s Financial Intelligence Unit (FIU) earlier this year – a requirement that pretty much every serious exchange now has to meet – Coinbase started testing the waters. First with a small early-access group in October, then gradually opening the gates wider.
As of today, if you’re in India, you can actually sign up again. And it’s not just some watered-down version either.
What Indian Users Can Actually Do Right Now
The good news is pretty good. Once you’re in, you get access to almost everything that makes Coinbase, well, Coinbase.
- Full crypto-to-crypto trading (Simple Trade and Advanced Trade both available)
- Send and receive crypto to external wallets
- Coinbase Wallet with full self-custody
- NFT support and dApp browser
- All the learning rewards and educational content
Honestly, for anyone who’s already holding crypto elsewhere, this is actually everything you need. I’ve been watching Indian crypto Twitter (sorry, X) and the excitement is real. People are genuinely happy to have a trusted global name back in their app drawer.
The One Thing Still Missing (And It’s a Big One)
But here’s where reality bites: you still can’t deposit or withdraw Indian rupees.
No UPI. No bank transfers. No debit card top-ups. Nothing.
If you want to use Coinbase in India right now, you have to bring your own crypto. It’s like being invited to an amazing restaurant but having to bring your own food. Technically you’re there and can use the facilities, but the full experience isn’t quite complete yet.
Coinbase says the proper fiat on-ramp – the ability to actually buy crypto with rupees directly – is coming in 2026. Which, let’s be honest, feels like they’re saying “we’ll have flying cars by 2030” levels of crypto time measurement. But apparently this time they mean it.
Why This “Half-Launch” Actually Makes Perfect Sense
Look, I get why some people are frustrated. “Just let us deposit rupees already!” is a completely fair reaction.
But from a business perspective? This move is actually brilliant.
By launching crypto-only trading first, Coinbase gets to:
- Rebuild user trust gradually
- Test their compliance setup without the massive risk of handling fiat
- Collect valuable data on Indian user behavior
- Show regulators they’re serious about playing by the rules
- Start generating trading fees immediately from users who transfer crypto in
It’s like dipping your toe in the water instead of cannonballing into what could still be shark-infested regulatory waters.
The phased approach lets everyone – users, partners, and especially regulators – get comfortable with Coinbase being back in India.
Smart? Absolutely. Frustrating for users who just want to buy Bitcoin with their salary? Also yes. Welcome to crypto in 2025.
India’s Crypto Tax Situation: Still Brutal
Let’s not sugarcoat this – trading crypto in India remains expensive. Like, eye-wateringly expensive.
You’ve still got the infamous 30% tax on crypto gains. And yes, that 1% TDS on every single transaction is still there, quietly eating away at your stack every time you make a trade.
But here’s something interesting I’ve noticed: Indian traders have adapted. They’re holding longer. They’re using more sophisticated strategies. The wash trading and day-trading frenzy has calmed down considerably since 2022.
In a weird way, the harsh tax regime might have actually made Indian crypto investors more mature and sophisticated than many of their global counterparts.
How This Changes the Indian Crypto Landscape
The return of Coinbase matters. A lot.
For years, Indian users have been forced to choose between local exchanges (which have had their own drama – remember WazirX?) and international platforms that were technically operating in gray areas.
Now? Having a fully compliant, FIU-registered global giant back in the mix changes everything.
It puts pressure on local exchanges to up their game. It gives users another trusted option. It shows international players that India is still very much open for business – just with clearer rules now.
And perhaps most importantly, it signals to the rest of the crypto world that India isn’t the regulatory black hole some people still think it is.
What Happens When Fiat Actually Arrives in 2026?
This is the million-dollar question (or maybe the billion-dollar question, given India’s population).
When Coinbase finally flips the switch on rupee deposits and withdrawals, we’re probably looking at one of the biggest onboarding events in crypto history.
Think about it: a trusted global brand, proper regulatory compliance, and direct bank connectivity in a country with 1.4 billion people and growing crypto curiosity?
Yeah. That could be massive.
Of course, they’ll have competition. Local players aren’t going to just roll over. But having Coinbase in the mix changes the psychology of the market completely.
The Bigger Picture for Global Crypto Adoption
India’s journey with crypto has been… complicated. But that’s actually pretty normal.
Almost every major market has gone through this same cycle: excitement → regulatory panic → bans or restrictions → gradual acceptance → proper regulatory frameworks → mainstream adoption.
The United States is still going through it. Europe is going through it. Pretty much everyone is.
India just happened to do it very publicly and very dramatically.
But the fact that Coinbase – a company that literally went public on NASDAQ and has to answer to shareholders and US regulators – is willing to come back? That tells you everything you need to know about where India fits in the global crypto picture.
This isn’t charity. This is business. Big business.
Final Thoughts: Welcome Back (Kind Of)
So is Coinbase really “back” in India?
Technically, yes. Practically, not quite yet.
But sometimes in crypto, showing up is half the battle. Coinbase has shown up. They’ve done the regulatory homework. They’ve built the foundation.
Now we wait for 2026 and the moment when Indian users can finally click that “Buy Crypto” button and actually pay with rupees.
When that day comes? Well, let’s just say the crypto world will be watching very closely.
Because if Coinbase can make it work in India – with its population, its regulatory complexity, and its legendary bureaucracy – then they can probably make it work anywhere.
And that, my friends, is the real story here.
Not just that Coinbase is back in India.
But that India is very much back in crypto.
