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- Supreme Court overruling Crypto Ban on India is bringing Crypto exchanges back.
- Kraken Exchange announced its recommitment to the Indian market.
- Dawn of a new Crypto Era in India is Inevitable
The Crypto industry had suffered a huge loss during the 2-year RBI vs Crypto ban. However, Indian crypto heaved a sigh of relief once the Supreme Court lifted the ban on 4th March 2020. Following the announcement, the crypto movement in India gained momentum.
Kraken Exchange Announces Recommitment to India
The US-based Kraken exchange has turned its eyes towards India after the ban lifted. Announcing the news on Twitter, Kraken exchange expressed their expansion after SC termed RBI ban on Crypto as unconstitutional.
Kraken Head of Global Business Development Sunny Ray, who founded the first regulated crypto exchange in India, Unocoin, said:
“This is an incredibly emotional moment for India. Satoshi created Bitcoin because he felt that central banks were inefficient. The fact that the crypto industry just battled, and won, against the central bank located in the second-most populous country in the world is a massive achievement. We fought for 1.5 billion people to have the right to access crypto.”
“Armed with the ability to expand our offering, Kraken is excited to recommit resources to grow its service in the region through new features and offerings,” the announcement stated.
The exchange further exclaimed that the future is bright in terms of the Indian market.
As of now, Kraken has not announced any time-frame as of when the exchange will commence its proceedings in India. However, with crypto exchanges turning towards the country and new startups evolving in the blockchain and crypto industry, a new era of Crypto is inevitable.