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Back Crypto exchange Coinbase clarifies discontinuation reports for Indian users, states breach of standards as reason
Coinbase has initiated a move to clarify reports suggesting it was discontinuing services for its Indian users. Earlier reports from TechCrunch had claimed that all services would cease by September 25, prompting some Indian users to withdraw their funds. However, Coinbase has clarified that the notice was aimed at specific users who were found to be in breach of the exchange's updated standards, not all Indian customers, reported Cointelegraph.
According to an email shared by a Coinbase spokesperson to Cointelegraph that said, "We are reaching out to inform you that we will be discontinuing all Coinbase Retail services linked to your above-mentioned account, as we will be disabling access for the retail accounts that no longer meet our updated standards for these services." The mail further emphasised that this action would not impact access to or use of Coinbase Cloud services.
The spokesperson explained that the email notice was sent only to users whose accounts were identified during a routine review as not meeting the updated standards. These accounts would be disabled, but customers would have the opportunity to update their information at a later date.
The spokesperson assured users that their funds remained safe and that they could continue to withdraw balances and send them to other crypto service providers until September 25.
