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

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

Three days after its debut in India, the United States-based company was able to move into Indian markets. Coinbase is a cryptocurrency exchange (NASDAQ)Stop abruptly using United Payments Interface (NASDAQ: ) (UPI), The most used payment service in the area. 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. If asked how the disruption caused by the Bitcoin price crash affected the company, India offers payment servicesArmstrong declared: