Kraken, cryptocurrency exchange has disclosed its assurance to enter in the Indian financial markets after the recent ruling of Supreme Court which declared the banking ban of Reserve Bank of India as unconstitutional on March 04, 2020.
As per the latest blog post, Kraken announced that the exchange is looking forward to diverse its accessibility in the markets of India. The reputed exchange explained about its history in the Indian crypto space where it used to provide the complete suite of products. Still, the growth was hampered when the Central bank of India proposed to banks to not help the venture capitalists associated with crypto assets.
After the Supreme Court’s decision, Kraken reaffirmed that they are the believers of the potential of digital currencies which will provide the financial freedom to the common people. They are excited to offer services in India as they consider that tech-savvy youth can accelerate the crypto movement, and also respect the India markets, which are regarded as one of the largest gold and remittance markets. Kraken believes that their services can facilitate the unbanked Indian population along with the youth of the country to invest and gain the profits in future.
Sunny Ray, Head of Global Business Development, who founded the Unocoin, first regulated crypto exchange in India said that,
“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.”
After the controversial ban of the Reserve Bank was declared unconstitutional, Indian crypto market opened the gates for the investors and reputed exchanges all across the world. Last week, HashCash Consultants of the US decided to invest $10 million in the Indian crypto space, and at the staring of this week, another positive move was taken by Kraken Exchange.
But the positive hopes are still in vain till the Parliament of India passes the bill in favour of crypto markets in India.
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