Bitcoin exchange Coinbase plans to open an office in the Indian city of Hyderabad, despite a possible cryptocurrency ban in the country.
Coinbase has more than 10 job openings in India, according to Linkedin. According to a blog post, the company is looking for employees for software development, engineering, and customer support.
“India has long been known as a hub for engineering and technological innovation and we look forward to finding world-class talent to help develop new ways for our clients to interact with the crypto economy,” the statement said.
The company called the opening of positions in India an important step towards creating greater geographic diversity among telecommuters. Coinbase has also posted jobs in the US, UK, Ireland, Japan, Singapore, Canada, and the Philippines.
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Recall, in 2019, a working group under the Government of India concluded that there is "no value at all" in cryptocurrencies. The authorities were advised to ban all digital assets, except for tokens issued by the central bank.
According to several media outlets, the document banning cryptocurrency trading was submitted to the Council of Ministers of India in September 2020.
In February 2021, Bloomberg, citing an anonymous senior Finance Ministry official, said that if the ban was imposed, asset holders would have three to six months to close positions. At the end of the transition period, the investment will be liquidated.