Cryptocurrency News

Indian central bank’s ‘informal pressure’ disrupted payments: Coinbase CEO

05/11/2022

Less than a minute

2022.05.11 13:21

Indian central bank’s ‘informal pressure’ disrupted payments: Coinbase CEO

Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase (NASDAQ:COIN) abruptly stopped using United Payments Interface (NASDAQ:TILE) (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank.

During Coinbase’s 2022 Quarterly Earnings call, Armstrong spoke about the company’s global expansion plans while acknowledging Coinbase’s role in starting the conversation with regulators related to crypto adoption. When asked about the impact of the recent disruption related to offering payment services in India, Armstrong stated:

05/11/2022

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