The Indian Supreme Court ruled last week to lift the ban on the use of cryptocurrencies two years ago. Now it has the first positive effects on the local business world. Kraken, one of the largest exchanges in the world, announced plans to expand its activities to the Indian market. This is clear from the new announcement released on Monday.
The U.S.-based exchange does not provide any further details about the type of investment. However, she admitted that growth in India was severely curbed by the ban on the country’s reserve bank. The head of global business development at Kraken, Sunny Ray, commented on lifting the ban. He explained the importance of the decision and the positive effects on the crypto space:
“This is an incredibly emotional moment for India. Satoshi created Bitcoin because he thought central banks were inefficient. The fact that the crypto industry has just fought and won against the central bank in the second most populous country in the world is a massive accomplishment. We fought for 1.5 billion people to have access to crypto. ”
The platform said that the future for the Indian markets is still upward and that with the list of this ban they hope to report more about this new engagement they have acquired with new users in one of the largest countries in the world.