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Coinbase, a leading US-based cryptocurrency exchange is hiring in India in spite of a potential crypto crackdown. Coinbase in a blog post article dated March 25, disclosed its plans to establish few IT services in India. The services include engineering, software development, and customer support operations.

The cryptocurrency exchange mentioned the immense world-class engineering talent the country possesses.

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India has long been known as a hub for engineering and technology innovation, and we look forward to finding that world-class talent to help the Coinbase group develop new ways for our customers to interact with the crypto economy.

Coinbase’s official website has not been updated perhaps, as it showed no job positions on its careers portal specific to India. Even the search site for the term ‘India’ came up empty at the time of writing.

According to the blog post, Coinbase is also actively hiring in Japan, Singapore, the Philippines, Ireland, Canada, and the U.K in order to expand the geographic diversity of its “remote-first” workforce.

After a report from anonymous sources appeared on the internet. Though India’s minister of finance, Nirmala Sitharaman, stated the government will not be “shutting all options off” for the crypto industry less than two weeks ago.

She further said we will allow certain windows for people [to] use so that experiments on the blockchain, Bitcoins, or cryptocurrency […] will have that [option] available for them.

She also added that the RBI will soon make an announcement regarding the central bank-issued digital currency or CBDC. Just goes to show India’s forthcoming regulations focus on prioritizing its CBDC.

Coinbase is also expected to complete an IPO via direct listing next month. It is assumed the company is valued at more than $100 billion. The shares of Coinbase traded at an average price of $343.58 privately during 2021 so far. According to CNBC the personal stake held by its CEO, Brain Armstrong, maybe worth a whopping $13.6 billion.