PANews reported on December 5 that according to Cointelegraph, the crypto asset platform BitGo is in talks with the Indian Financial Intelligence Unit (FIU) and plans to enter India, a market that ranks among the top in global crypto adoption. BitGo COO Fang Chen said during the Indian Blockchain Week that the company hopes to provide trading and custody services and is currently discussing compliance issues with the FIU.

The Indian crypto market is expected to generate revenue of $6.6 billion in 2024, but several overseas crypto exchanges have already been banned. BitGo needs to be fully registered under local laws to provide services. The company provides services in more than 50 countries around the world and has a team of 150 people in Bangalore.