India clears Coinbase’s minority stake acquisition in CoinDCX

India's Competition Commission of India (CCI) has approved Coinbase Global Inc.'s proposed transaction to acquire a minority stake in the local crypto exchange, DCX Global Limited (CoinDCX). Coinbase Chief Legal Officer Paul Grewal confirmed the approval, calling it an important regulatory milestone deepening their partnership. Coinbase initially announced the investment in October to scale its presence in India and the Middle East, valuing CoinDCX at $2.45 billion at the time. This regulatory clearance follows Coinbase's recent resumption of user onboarding in India after a two-year hiatus due to regulatory challenges, highlighting the U.S. exchange's continued commitment to the vibrant Indian crypto market, which ranked first globally in crypto adoption.

(Source：The Block)