(Reuters) -Coinbase is working on re-entering the Indian market after ceasing operations over a year ago, TechCrunch reported on Thursday, citing people familiar with the matter. Coinbase is engaging with Indian authorities,

Crypto exchange Coinbase (COIN) is holding talks with Indian authorities in an effort to secure approval to return to the country it quit in 2023, Tech Crunch reported on Wednesday. The exchange is in talks with regulators including the Financial Intelligence Unit (FIU),

The crypto exchange is in discussions with Indian regulators, such as the Financial Intelligence Unit, to secure the necessary approvals for a relaunch, a source familiar with the matter told Decrypt.

Coinbase is working on re-entering the Indian market after ceasing operations over a year ago, and is engaging with Indian authorities to secure necessary approvals, TechCrunch reported on Thursday, citing people familiar with the matter.

Coinbase's interest in re-entering India comes in line with its broader international expansion strategy, CFO Alesia Haas said at a recent Goldman Sachs conference. Although India is a critical market for US tech firms, the cryptocurrency sector in the country is still relatively small.

Coinbase reportedly plans to re-enter India after over a year away and is already engaging with key regulators.

Coinbase plans market re-entry in India, engaging with regulators like FIU after halting operations. Regulatory approval pending.

Coinbase reportedly plans to return to the Indian market this year. The company is said to have already contacted India’s regulators, such as the Financial Intelligence Unit. Coinbase entered the Indian market in 2022 before suspending its operations three days later.