Coinbase Global, Inc.
Case brief
What is this about?
The Competition Commission of India registered a combination involving Coinbase acquiring shares in DCX and DCX acquiring Neblio. The Commission found no likelihood of Appreciable Adverse Effect on Competition (AAEC) due to minimal combined market shares and the presence of other players, approving the transaction under Section 31.
What did the court decide?
Approval of the Proposed Combination under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No.C-2025/10/1342
Non-Confidential
16th December 2025
Notice under Section 6(2) of the Competition Act, 2002 given by Coinbase Global Inc. and DCX Global Limited
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Mr. Deepak Anurag
Member
Order under Section 31(1) of the Competition Act, 2002
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shares in DCX and restructuring of Neblio is likely to cause Appreciable Adverse Effect on Competition (AAEC) in India.
Whether the Commission needs to precisely delineate the relevant market (Crypto-Exchange Market vs. CEX Market) to assess the combination.
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Deepak Anurag
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court