Kraken
February 20, 2025
Kraken Unicorn News - February 20, 2025
Kraken, the US-based cryptocurrency exchange, is preparing to re-enter the Indian market by securing necessary licenses and addressing regulatory challenges. With Vishesh Khurana as an advisor, Kraken aims to comply with India's stringent financial regulations, marking a potential milestone for the company.
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San Francisco-based cryptocurrency exchange Kraken is preparing to re-enter the Indian market after being banned in early 2024 for non-compliance with anti-money laundering laws. The company has appointed Shiprocket co-founder Vishesh Khurana as an advisor to lead its local operations and plans to engage with Indian authorities to secure the necessary licenses. To operate legally, Kraken must comply with the Prevention of Money Laundering Act (PMLA), which includes registration with the Financial Intelligence Unit (FIU), adherence to know-your-customer (KYC) norms, and reporting suspicious transactions. This move aligns with other global crypto exchanges, such as Coinbase, reportedly aiming to relaunch services in India amid increasing regulatory clarity and a booming cryptocurrency market.
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