Kraken intends to return to the Indian market through its San Francisco headquarters after an early 2024 market ban. As part of its relaunch plan Vishesh Khurana has joined the exchange although he holds two prominent roles as a co-founder for Shiprocket and managing partner for Tribe Capital India remotely. Khurana will direct Kraken’s Indian operations as the company currently shows strong commitment to reintroduce its services in the region.
Kraken will reach out to Indian regulators in order to obtain required permits through a commitment to local legislative compliance. The future crypto exchange must comply with the Prevention of Money Laundering Act (PMLA) rules so it needs to maintain Know Your Customer (KYC) protocols and link to the Financial Intelligence Unit (FIU).
Evidence shows Kraken experienced a ban in 2024 due to its failure to meet anti-money laundering compliance standards. Company officials plan their market return based on growing regulatory transparency together with improving market health. The major crypto industry players Binance and KuCoin have obtained regulatory approvals in India allowing them to operate again.
Kraken has chosen the Indian market entry point during a global cryptocurrency market recovery period. The current Bitcoin popularity drives Kraken to position itself strategically for forthcoming market expansion. The exchange generated $1.5 billion in revenue for 2024 which surpassed previous results by 100% while its trading volumes exceeded $665 billion.
The global regulatory acceptance and growing crypto industry adoption in India are key factors which motivated Kraken to return to the market. Kraken plans to gain digital asset market dominance in India by utilizing its position as one of the globe’s largest crypto exchange platforms faced with increasing competition.