Coinbase has started offering crypto-asset trading services to users in India.
USA’s largest crypto asset trading platform Coinbase has announced that it has now started offering crypto asset trading services in the country at an event in India’s technology hub, Bengaluru.
Coinbase CEO Brian Armstrong emphasized that the company’s investment in India is long-term. Armstrong also acknowledged that enthusiasm for cryptoassets has waned in the country due to the tax law enacted on April 1. As we reported earlier, the country has enacted a law that imposes a 30% tax liability on crypto-asset gains. In his statement on the subject, he said:
“We know it will not be easy to bring this technology. We don’t know exactly how it will develop. But we are committed to working with bank partners, regulators, most importantly the Indian public, because they show a genuine interest in cryptocurrencies and are genuinely eager to have access to some of these services and products.”
Coinbase also recently announced that it plans to recruit 1,000 people to its headquarters in India by the end of the year.
40121
