This Week In Crypto Asia: Kraken Eyes India Return

Popular crypto exchange Kraken could be preparing for a potential re-entry into the Indian market after being banned last year. 

According to local media reports dated 20 February 2025, Kraken is in discussions with India’s Financial Intelligence Unit (FIU) to obtain the necessary licenses.

In 2024, local authorities blacklisted and banned Kraken for non-compliance with anti-money laundering (AML) and counter financing of terrorism (CFT) laws.

At the time India banned eight crypto exchanges, including big names like Binance and Coinbase. However, after the recent re-entry of both the companies, San Francisco based Kraken appears to be following a similar path.

BREAKING:

KRAKEN IS PLANNING TO RESTART OPERATIONS IN INDIA AFTER THE FIU BAN EARLIER IN 2024.

Looks like a major comeback to me! pic.twitter.com/3c0Xa0Iixs

— Money Guru Digital (@Moneygurudigi) February 20, 2025

India represents one of the fastest-growing markets for cryptocurrencies due to its large population and increasing adoption of digital assets.

The report mentions that Vishesh Khurana, co-founder of Shiprocket, advises Kraken as it prepares to re-enter India. Shiprocket is a logistics startup valued at $1.2 billion and is preparing for an IPO.

Kraken plans to use Khurana’s expertise in business scaling and regulatory navigation in India.

Explore: India Cracks Down On Bybit: $1 Million Fine Imposed, Website Unblocked After Penalty Payment

Binance, Coinbase, Bybit Re-enter India

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