Coinbase Has Issued Clarification Regarding It Ceasing Services In India

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Coinbase has recently put forward a clarification after a report that was circulated went on to suggest that it would soon be halting all of its operations for Indian customers. According to reports coming in from the Economic Times and TechCrunch on the 11th of September, the cryptocurrency exchange for Indian users warned its clientele through an email that all the services would be discontinued by the 25th of September, and everyone was urged to remove any and all funds from the exchange.

However, later it was understood that the notice had not been aimed at all the Indian customers- but was rather aimed at those who had breached the standards of the exchange. 

Coinbase India To Cease Its Services For Those Who Have Breached Contract

According to an email that was shared by a spokesperson for Coinbase to Cointelegraph on the 8th of September, the team wanted to reach out and inform people that they would be discontinuing all the Coinbase Retail services that were linked to those whose accounts have been mentioned previously- for they would be disabling access for the accounts that didn’t meet up to the updated standards for these services. The email also added that people should not consider this to impact one’s access to Coinbase Cloud services- which one would still find accessible through their account. 

In the statement, the spokesperson reiterated that the mail had been sent to only those account holders, whom Coinbase deemed as going against their updated standards. The original report from TechCrunch, as it goes, was shared widely on social media as well- which was then picked up by a number of prominent accounts on X- which includes the Wu Blockchain.