Bitfinex, KuCoin and Kraken Aim at India Despite Regulatory Uncertainty
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Cryptocurrency exchanges Bitfinex, KuCoin and Kraken are reportedly considering establishing their presence in the India's cryptocurrency market, Reuters has learned, citing sources familiar with the matter. At least one of the exchanges is already in acquisition talks with a local firm.

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"These companies have already begun talks to understand the Indian market and the entry points better," said the source.

India May Regulate Cryptos Instead of Banning Them

The other two exchanges are reportedly deciding whether they should enter the market by setting up a subsidiary or acquiring a local firm. However, as of press time, none of the exchanges officially commented on the news.

As iHodl earlier reported, KuCoin faced scrutiny after the Ontario Securities Commission (OSC) filed against it a lawsuit. According to the watchdog, KuCoin failed to comply with Ontario securities law. Despite warnings, KuCoin did not contact the OSC. Now, the Canadian regulator wants Mek Global and PhoenixFin (collectively, KuCoin) to pay an administrative penalty of not more than $1 million for each failure to comply with Ontario securities law.

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