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Ronald Maguire

12 May 2022 211 Read Crypto

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Coinbase Suspends Its Services In India

The Reserve Bank of India put pressure on Coinbase and halted the process of purchasing crypto assets through the country's online retail payment system. According to Brian Armstrong, CEO of the company, Coinbase had to disable UPI as it was unofficially pressured by the Reserve Bank of India a few days after launch. Having disabled the Universal Payments Interface, Coinbase is having trouble with one of the world's largest cryptocurrency markets.

UPI is a Payment System

UPI is a system developed in India that is used to bridge the gap between digital assets and fiat currencies.

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