Coinbase posts 10 vacancies in India

The cryptocurrency exchange Coinbase plans to open an office in the Indian city of Hyderabad, despite a possible ban on cryptocurrencies in the country.

According to LinkedIn, Coinbase opened more than 10 vacancies in India. According to a blog post, the company is seeking employees for software development, engineering and customer support.

“India has long been known as a hub of engineering and technological innovations, and we expect to find world-class talent who will help develop new ways for our clients to interact with the crypto economy,” the statement said.

The company said that opening positions in India is an important step toward greater geographic diversity among its remote employees. Coinbase also posted vacancies in the United States, the United Kingdom, Ireland, Japan, Singapore, Canada and the Philippines.

In 2019, a government-commissioned working group concluded that there is no intrinsic value to cryptocurrencies. Authorities were advised to ban all digital assets except those issued by central banks.

According to several media reports, the document proposing a ban on cryptocurrency trading was submitted to the Indian Cabinet in September 2020.

In February 2021, Bloomberg, citing an anonymous senior finance ministry official, said that if a ban were introduced, asset holders would have three to six months to close positions. After the transition period investments would be liquidated.