Markets
What to know:
- India’s competition regulator, that paragon of wisdom, has approved Coinbase’s acquisition of a minority stake in CoinDCX. A move as bold as a jester’s hat! 🎩✨
- The approval follows a year of chaos for CoinDCX, including a security breach so dramatic it could rival a Shakespearean tragedy. 🎭💸
- Coinbase, ever the ambitious jester, is resuming user registrations and plotting a rupee on-ramp in 2026. Because why wait for instant success when you can wait until next year? 🕐💰
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 exposure to one of the world’s fastest-growing crypto markets. A match made in heaven-or at least in a spreadsheet. 📊💫
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. A decision so thrilling, it’s practically a circus act! 🎪💸
Coinbase has been an investor in CoinDCX since 2020. The latest capital infusion signals a renewed commitment to India after the exchange reopened user registrations in the country last week following a two-year hiatus. A comeback so dramatic, it’s practically a soap opera! 🎬📺
The approval follows Coinbase’s mid-October disclosure of the investment and caps a volatile year for CoinDCX. In July, the exchange disclosed a $44.2 million security breach involving one of its wallets, though customer funds were not affected. A miracle, or just a well-timed distraction? 🧙♂️🕵️♀️
Coinbase’s renewed push into India comes as it looks to rebuild its local footprint. The exchange resumed onboarding last week with crypto-to-crypto trading and plans to roll out a rupee on-ramp in 2026, according to Asia-Pacific director John O’Loghlen. A future so bright, you need sunglasses! 🌞🕶️
India remains a complex market for crypto firms due to high transaction taxes and regulatory uncertainty, but the CCI’s approval suggests policymakers are willing to allow global players a role in the country’s digital asset ecosystem under defined oversight. Or, as we like to call it, “a game of chess with more rules than a medieval tavern.” 🏰♟️
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2025-12-18 11:15