🌗Coinbase said Monday that it has disabled new user registrations on its exchange products in India but remains committed to the country, where its operations have been in limbo for more than a year. This clarification comes days after Coinbase sent an email to many customers in India stating it would cease exchange operations after September 25.

The US-based crypto exchange operator said some customers who did not meet the company's latest standards received the email and the message had no impact on anyone else in the country. The email warned those users to move their funds by September 25.

The eponymous exchange app from Coinbase, which is also an investor in India's leading crypto exchanges CoinDCX and CoinSwitch Kuber, has less than 50,000 monthly active users in India.

Coinbase has not been able to make any breakthroughs with local authorities for more than a year, when it launched the exchange in India. The progress made by local officials has frustrated executives, including Durgesh Kaushik, who joined the company last year as senior director for Market Expansion, but resigned a few months later.

Coinbase at the time said it was committed to working with NPCI (National Payments Corporation of India) and other relevant authorities and said it was experimenting with other payment methods, something that never materialized.

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