Coinbase has suspended INR withdrawals in India due to service interruptions with its banking partners. Coinbase indicates that although the withdrawal disruptions in India continue, customers' funds are still safe.
Coinbase Users in India have been waiting for their funds to be credited, as the exchange has been continuously suspended due to a bank failure. INR Withdrawals have not been possible for over five days now. The exchange has not provided a clear timeline for resuming services yet.
Meanwhile, Unocoin is facing another security incident, while ZebPay indicates that due to bank issues, withdrawals from INR are experiencing delays.
Coinbase Pause INR Withdrawal
On November 14th, Coinbase India announced on X that due to a malfunction with their banking partner, withdrawals via INR were temporarily unavailable. The exchange requested users not to initiate new INR withdrawals and warned that requests submitted during this period might fail or remain pending.
Coinbase also guarantees users the safety of their funds and states that they are working with banks to restore the withdrawal service.
This situation has left users on X feeling frustrated, and they have urged Coinbase to change their bank partner, stating that they have been unable to withdraw their funds for over five days.
As of now, Coinbase has still not provided a clear timeline for when withdrawals will resume.
The reason this point in time is important is that Coinbase has recently expanded its rupee services in India. After registering with the Indian financial intelligence agencies, the exchange has enabled INR for deposits and withdrawals through IMPS.
Unocoin and ZebPay have also encountered problems.
Coinbase is not the only platform in India to encounter service issues, although the reasons vary.
Another well-known Indian cryptocurrency exchange, Unocoin, has suspended all deposit and withdrawal services since November 9, 2026. The exchange has not yet indicated when these services will be resumed.
On the other hand, ZebPay indicates that withdrawals using INR are still possible, but the processing time is longer than usual. On November 11th, the exchange stated that technical issues with their banking partners caused the delay.
These disruptions have caused users of several cryptocurrency platforms in India to encounter problems with accessing and withdrawing money in rupees.
The Reserve Bank of India's stance on cryptocurrency banking business
The latest issue also arises as India continues to adopt a strict stance towards cryptocurrency and banking services.
In June this year, the deputy governor of India's central bank stated that banks and financial institutions should stay away from crypto-related businesses and should not hold or trade cryptocurrencies.
The Reserve Bank of India has even warned that virtual digital assets may pose risks to emerging economies such as India.
Despite these warnings, India still allows crypto transactions to be conducted in accordance with tax regulations, which include a 30% tax on profits and a 1% TDS fee. At the same time, banks are required to maintain a distance from crypto-related activities.
