Coinbase Launched In India

US cryptocurrency exchange Coinbase launched in India, which introduced tax law on cryptocurrencies.

Coinbase, the largest US cryptocurrency exchange, announced at an event in India's technology hub, Bengaluru, that it has started offering cryptocurrency trading services to users in India. Brian Armstrong, co-founder and CEO of Coinbase, first 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. Brian Armstrong, co-founder and CEO of Coinbase, said: “We know that bringing this technology will not be the right decision. We do not know exactly how it will evolve. But we are committed to working with bank partners, regulators, most importantly the Indian public. I have sparked a genuine interest in cryptocurrency. There is a genuine desire to access some of these services and products. " Finally, Coinbase announced earlier this week that it plans to hire 1,000 people at its tech hub in India by the end of the year.