Coinbase CEO: Trading in India halted because of RBI’s informal pressure

  • Coinbase halted trading service in India because of “informal pressure” from the Reserve Bank of India, the crypto exchange’s chief executive said on Tuesday, addressing the notable Indian episode for the first time in a month
  • Coinbase launched its eponymous crypto trading service in India to much fanfare on April 7.
  • The Reserve Bank of India had earlier banned cryptocurrency – a decision overturned by the nation’s apex court over two years ago – but the central bank continues to informally exert pressure on banks from engaging with cryptocurrency exchanges, TechCrunch reported earlier.

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