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

PANews reported on December 18th that, according to Cointelegraph, the Competition Commission of India announced its approval for Coinbase to acquire a minority stake in DCX Global Limited (the company behind the crypto platform CoinDCX). Coinbase's Chief Legal Officer, Paul Grewal, subsequently confirmed this news in an X post. Neither the regulatory announcement nor Grewal's post mentioned Coinbase's percentage of ownership in the crypto exchange.

Previously, in October, it was announced that Coinbase planned to invest in CoinDCX, valuing the company at approximately $2.4 billion. Coinbase reported at the time that CoinDCX's annual revenue was approximately $141 million as of July, but denied previous reports that it planned to acquire the company outright for $1 billion.