Coinbase Clarifies Services Limited for Some Indian Users, Not All; Funds Remain Intact

Coinbase issued clarification about discontinuing services for some Indian accounts that don't meet updated standards, not all customers. Funds remain safe.
Original report about halting all Indian services was widely shared on social media.
Coinbase had already stopped allowing new Indian users to sign up for exchange services since June, prompting them to use Coinbase Wallet instead.
Coinbase launched in India in April 2022 but halted UPI payments days later due to regulatory pressure.
Indian users can still withdraw crypto assets from Coinbase accounts, but can't purchase new assets. Coinbase says it remains committed to the Indian market long-term.

cointelegraph.com

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Posted 9/11/2023, 6:11:15 AM