Coinbase CEO Blames RBI for Botched India Launch Coinbase CEO Blames RBI for Informal Pressure for Botched India Launch - BitcoinEthereumNews.com
TeknolohiyaCoinbase CEO Blames RBI for Botched India Launch Coinbase CEO Blames RBI for Informal Pressure for Botched India Launch05 / 11 / 2022Balita ng Ethereum ng Bitcoin Coinbase Co-founder and CEO Brian Armstrong squarely blamed the Reserve Bank of India (RBI) for employing “informal pressure” and denying the Unified Payments Interface (UPI) services that led to Coinbase halting its trading services three days after the launch on April 7. Coinbase India Launch Experience Speaking for the first time on the issue, Armstrong ipinaliwanag what led to the suspension of the companys services in India and how it plans to stage a comeback. During the Q1 2022 earnings call, he said: “So a few days after launching, we ended up disabling UPI because of some informal pressure from the Reserve Bank of India, which is kind of the Treasury equivalent there,” he explained in response to a question from Anil Gupta, VP, Investor Relations, Coinbase. Coinbase, which maintains a technical hub with about 300 staff in India for over a year and is planing to hire another 1,000 staff this year alone, launched its trading services on April 7, 2022, in Bangalore in the presence of CEO Armstrong. But within three days, the Nasdaq-listed crypto trading platform