Kraken exchange is preparing to re-enter the Indian market after being banned in 2024 due to violating anti-money laundering laws. The exchange has been working with local authorities to obtain the necessary permits and has appointed an advisor to lead its India expansion efforts. Nine offshore exchanges, including Kraken, were blacklisted by India's Financial Intelligence Unit last year, but some have since been granted clearance, paving the way for Kraken's potential approval. Kraken is currently the seventh-largest cryptocurrency exchange globally and had a significant increase in revenue in 2024. However, it is facing criticism for its affiliation with Dave Portnoy, who has been connected to memecoin pump-and-dump schemes.



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