India’s competition regulator has approved Coinbase’s plan to acquire a minority stake in CoinDCX, which will allow the US-based exchange to deepen its exposure to one of the world’s fastest-growing crypto markets.
The Competition Commission of India (CCI) cleared the transaction on Wednesday, giving Coinbase the green light to invest in DCX Global Limited, the parent company of CoinDCX.
Charging…
Coinbase has been an investor in CoinDCX since 2020. The latest capital injection signals a renewed commitment to India after the exchange reopened user registrations in the country last week following a two-year hiatus.
The approval follows Coinbase’s disclosure of the investment in mid-October and ends a volatile year for CoinDCX. In July, the exchange disclosed a $44.2 million security breach involving one of its wallets, although customer funds were not affected.
Coinbase’s renewed push in India comes as it looks to rebuild its local footprint. The exchange resumed onboarding last week with crypto-to-crypto trading and plans to implement a rupee on-ramp in 2026, according to Asia-Pacific head John O’Loghlen.
India remains a complex market for cryptocurrency companies due to high transaction taxes and regulatory uncertainty, but the CCI approval suggests that policymakers are willing to allow global players to play a role in the country’s digital asset ecosystem under defined oversight.
