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India to recover $345m in taxes from Kraken, Huobi, and other offshore exchanges. 
 
India’s Financial Intelligence Unit is looking to recoup at least $345 million in goods and services tax from 7 seven foreign cryptocurrency exchanges that operated in the nation. 
 
Sources familiar with the matter told the Economic Times that India’s anti-money laundering body is ready to hear the petitions of the exchanges—Bitfinex, MEXC Global, Kraken, Huobi, Gate.io, Bittrex, and Bitstamp—which were barred from offering their services following show-cause notices sent by the regulator. 
 
The hearing will be held sometime this week where these companies will present their cases for resuming operations in India by demonstrating their willingness to comply with India’s Prevention of Money Laundering Act as a reporting entity.

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