India’s competition regulator has approved Coinbase’s plan to acquire a minority stake in CoinDCX, allowing the U.S.-based exchange to deepen its investment in one of the world’s fastest-growing cryptocurrency markets.
The Competition Commission of India (CCI) approved the deal on Wednesday, giving the green light for Coinbase to invest in DCX Global Limited, the parent company of CoinDCX.
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Coinbase has been an investor in CoinDCX since 2020. The latest capital infusion marks a renewed commitment to India after the exchange reopened Indian user registrations last week after a two-year hiatus.
The approval comes after Coinbase disclosed its investment in mid-October, capping a tumultuous year for CoinDCX. In July, the exchange disclosed a $44.2 million security breach involving one of its wallets, but customer funds were not affected.
Coinbase’s re-entry into India comes as it looks to rebuild its local footprint. John O’Loghlen, Asia Pacific director, said the exchange resumed cryptocurrency trading last week and plans to launch rupee trading in 2026.
India remains a complex market for cryptocurrency companies due to high transaction taxes and regulatory uncertainty, but the CCI’s approval demonstrates policymakers’ willingness to allow global players to play a role in the country’s digital asset ecosystem with clear oversight.