Crypto Access Gets Tougher in India as Coinbase INR Withdrawals Halted - Coinpedia

Coinbase users in India have been left waiting for their money as the exchange continues to halt INR withdrawals due to a banking outage that has lasted more than five days. The exchange has yet to share a clear timeline for restoring the service, frustrating users who have been unable to access their funds.

On November 14, Coinbase India announced on X that INR withdrawals are temporarily unavailable due to an outage at its banking partner. The exchange asked users not to start new INR withdrawals, warning that requests made during the outage could fail or remain pending.

Coinbase also assured users that their funds are safe and said it is working with the bank to restore withdrawals. However, the exchange has not provided a clear timeline for when withdrawals will resume, leaving users in uncertainty.

Other Experiences Face Issues

Coinbase is not the only platform dealing with service problems in India, although the causes are different. Unocoin, another well-known Indian cryptocurrency exchange, has stopped all deposits and withdrawals since November 9, 2026, without sharing when these services will resume.

ZebPay, on the other hand, said INR withdrawals are still working but taking longer than usual. On November 11, the exchange reported a technical issue at its banking partner was causing delays in processing withdrawals.

These disruptions have left users across multiple Indian crypto platforms facing problems with rupee deposits and withdrawals, highlighting the challenges of operating in India's evolving regulatory environment.

Regulatory Context

The latest problems come as India continues to take a strict approach to crypto and banking. In June, RBI deputy governors said that banks and financial institutions should stay away from crypto-related businesses and should not hold or trade crypto.

The central bank even warned that virtual digital assets could pose risks to an emerging economy like India. Despite these warnings, India allows crypto trading under tax rules, including a 30% tax on gains and 1% TDS, while asking banks to distance themselves from crypto-related businesses.

Coinbase only recently expanded its rupee services in India after registering with India's Financial Intelligence Unit, making the current outage particularly impactful for users who had just begun utilizing these services.