India, Feb. 13 -- US-based cryptocurrency exchange Coinbase is working on re-entering the Indian market after exiting more than a year ago TechCrunch reported.

HT.com couldn't independently verify the information.

The exchange is engaging with various Indian authorities, including the Financial Intelligence Unit (FIU), the government agency which scrutinizes financial transactions.

This comes at a time when India is reviewing its stance on cryptocurrencies, primarily due to global regulatory shifts, and also recent US policy changes, according to a Reuters report which added that Economic Affairs Secretary Ajay Seth told earlier this month that India's approach on the assets cannot be unilateral, since cryptocurrencies do not adhere to...