India’s Competition Commission has approved Coinbase’s acquisition of a minority stake in DCX Global Limited, the parent company of crypto exchange CoinDCX. The decision allows the US-based exchange to deepen its presence in one of the world’s largest retail crypto markets under regulatory oversight. Coinbase has been an investor in CoinDCX since 2020, and the approval formalizes a renewed commitment after a period of limited activity.
The clearance follows a turbulent year for CoinDCX, which disclosed a $44.2 million security breach in July involving a single wallet. The company said customer funds were not impacted, and operations continued without disruption, an important factor for institutional and regulatory confidence.
Coinbase’s move comes as it resumes user onboarding in India and plans to introduce a rupee on-ramp in 2026. Despite high transaction taxes and regulatory uncertainty, the approval signals measured openness to global crypto firms operating within defined boundaries.
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