Indian regulators approve Coinbase's acquisition of a minority stake in CoinDCX

According to Cointelegraph, the Indian Competition Commission has announced the approval of Coinbase's acquisition of a minority stake in DCX Global Limited (the company behind the crypto platform CoinDCX).

Subsequently, Coinbase's Chief Legal Officer Paul Grewal confirmed the news in a post on X. Neither the regulatory announcement nor Grewal's post mentioned the percentage of equity Coinbase holds in the crypto exchange. Previously, in October, there was an announcement stating that Coinbase planned to invest in CoinDCX, which would value CoinDCX at approximately $2.4 billion post-investment. At that time, Coinbase reported that as of July, CoinDCX's annual revenue was around $141 million, but denied earlier reports about its plans to fully acquire the company for $1 billion.