Cryptocurrency Exchanges Said to Scout Entry Into India Despite Potential Ban Cryptocurrency ban’s opponents say the move would stifle the economic power of the country. By Reuters | Updated: 9 June 2021 10:42 IST US-based Kraken, Hong Kong-based Bitfinex, and rival KuCoin are actively scouting the market Highlights India has had no rules specifically for cryptocurrency exchanges In 2019, Binance acquired WazirX, an Indian cryptocurrency startup Global digital currency exchanges are exploring ways to set up in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the government in New Delhi dithers over introducing a law that could ban cryptocurrencies.