USDBinance Secures Historic ADGM Global License as Coinbase Re-Enters India After Two-Year Exit
Regulatory Milestones Push Two Major Exchanges Into New Phases of Compliance and Market Expansion
TL;DR
- Binance becomes the first crypto exchange to obtain a global license from ADGM’s FSRA through three regulated Abu Dhabi entities.
- Coinbase resumes user onboarding in India after a two-year hiatus, planning a 2026 INR fiat on-ramp.
- Both moves signal a pivot toward long-run regulatory alignment as exchanges recalibrate strategies for institutional access and major emerging markets.
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Binance set a new regulatory benchmark on December 8, 2025, after securing the first-ever global license issued under the Financial Services Regulatory Authority of Abu Dhabi Global Market. The approval formalizes Binance.com’s operations through three distinct entities inside ADGM—an Exchange, a Clearing House, and a Broker-Dealer—each holding separate permissions under a model that mirrors traditional financial-market architecture.
Binance described the authorization as a structural step toward building what it called “the most trusted and compliant digital-asset ecosystem in the world,” emphasizing that the license strengthens its ability to offer “credibility and seamless access across multiple markets, extending well beyond the UAE.” The company framed the development as a foundation for safer institutional and retail participation, with analysts noting that the milestone could reinforce confidence around BNB’s regulatory trajectory.
The licensing breakthrough reflects UAE regulators’ ongoing push to formalize digital-asset oversight, but it also underscores Binance’s strategic need to anchor operations inside frameworks that meet global compliance expectations. The exchange stated the FSRA approval places it “at the forefront of regulatory progress in digital finance,” pointing to the multi-entity structure as evidence of deeper alignment with market-integrity standards and risk-management requirements typically demanded by institutional participants. Market observers suggested the move provides Binance with a clearer runway to operate cross-border services under a recognized regulatory umbrella, contrasting sharply with the fragmented oversight environment that has shaped much of the industry’s growth over the past decade.
Coinbase, meanwhile, began resurfacing in India after withdrawing from the country more than two years ago, reopening user onboarding with crypto-to-crypto trading while intentionally holding back on fiat functionality. The company confirmed that a full INR on-ramp, including cash-to-crypto purchases and withdrawals, is expected in 2026, following efforts to rebuild its compliance standing through registration with India’s Financial Intelligence Unit earlier this year.
Coinbase’s Asia-Pacific director John O'Loghlen outlined the roadmap during India Blockchain Week, framing the gradual restart as a measured return designed to align the platform with domestic AML expectations and evolving regulatory priorities. The renewed foothold coincides with Coinbase’s ongoing strategic investments in Indian ecosystem players, signaling a longer-term commitment to re-establishing relevance in one of the world’s largest emerging crypto markets despite its uncertain policy climate.
The re-entry marks a reset for Coinbase, which previously exited the country after regulatory friction and banking-partner disruptions halted fiat services. By limiting activity to crypto-denominated trading during its re-launch phase, the exchange is positioning itself for a cautious rebuild rather than a rapid expansion push, an approach analysts see as an acknowledgment of India’s strict compliance environment and its heavy taxation framework. The strategy appears aimed at restoring trust with regulators before pursuing the broader retail audience that a fiat on-ramp would unlock.
Together, Binance’s ADGM global license and Coinbase’s structured return to India point to a maturing industry settling into more conventional regulatory norms. Both exchanges are moving toward frameworks designed to support long-horizon growth rather than short-term market capture, and each development reflects a recalibration of how digital-asset platforms are attempting to anchor themselves inside jurisdictions capable of shaping global crypto policy for the next decade.
This article has been refined and enhanced by ChatGPT.
