Coinbase Withdraws from India, Citing Non-Compliant Accounts

Coinbase, the global cryptocurrency exchange, is discontinuing its services in India after facing regulatory challenges. The company has warned customers via email that it will cease all exchange services for them after September 25 and has disabled new signups. Coinbase has advised Indian users to withdraw any funds they have in their accounts and download the Coinbase Wallet instead. Despite being an investor in Indian crypto exchanges, Coinbase has been unable to make progress with local authorities, leading to the departure of key executives. The move comes after an 18-month effort to relaunch its service in India, which faced opposition from the Reserve Bank of India and other government entities.