This Week In Crypto Asia: WazirX Resumes Operations, Asian Exchanges Push Back On BTC Hoarding, Cambodian Crypto Overlord Gets Sanctioned

Posted On October 27, 2025

In 2025, the Asian crypto landscape has evolved. Till last year, it could have been said that the Asian crypto landscape in general was in its experimenting phase, a side project almost.

However, since 2025, crypto in the Asia has seen a massive uptick in adoption on the back of clearer policy frameworks. Countries like India, South Korea, Japan and Vietnam are leading the charge, in their own way, contributing to trading volumes, institutional investments and retail participation.

This past week, there have been more developments in this region. Here’s the rundown.

Indian Exchange WazirX To Resume Operations From 24 October 2025

WazirX, the Indian exchange is all set to resume its operations in India starting 24 October 2025. The High Court of Singapore granted it permission to commence its operations after successfully completing its restructuring process.

To begin with, WazirX is offering zero trading fees across all pairs. This aims to boost platform usage and to make trading easier for users without having to pay a bunch of charges. As a start, WazirX will offer select few crypto-to-crypto pairs and the USDT/INR pair. More pairings will be rolled out gradually as the exchange finds its its groove again.

In the meantime, WazirX has gone all out and partnered with BitGo, an industry leader in crypto custody. After its lengthy restructuring process post hack in 2024, it is only natural to step up security. WazirX’s partnership with BitGo will ensure that funds are protected with insured, institutional grade safeguards in place.

A local publication quoted founder Nischal Shetty saying, “At the heart of everything we do is our mission to make crypto accessible to every Indian… This isn’t just a return to operations, it’s a reinforcement of our integrity which we’ve always strived for.”

Ahead of its launch, the Indian crypto exchange has managed to complete token swaps, mergers, de-listings and rebranding.

Also, it plans to start distributing tokens to creditors within 10 business days and will also issue Recovery Tokens to help settle outstanding claims.

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Asian Exchanges Push Back On Corporate Crypto Hoarding

Some of Asia’s biggest stock exchanges are beginning to push back against crypto treasury companies that are publicly listed. Hong Kong Exchanges and Clearing (HKEX) has recently blocked five companies from becoming Digital Asset Treasuries (DATs) based on earlier rulings on how much liquid assets a listed company can hold.

Strategy Inc., led by Michael Saylor, popularized the trend of shifting a company’s business model to that of DATs, inspiring many companies to follow in his footsteps.

However, the momentum is now slowing down. A report from Singapore-based 10X Research estimated that retail investors have lost about $17 billion in DATs companies. Shares of Boyaa Interactive, a Hong-Kong based DATs company, dropped nearly 4%, underperforming the broader market. Other crypto-native companies such as DL Holdings and Ourgame also saw declines.

The Bombay Stock Exchange (BSE), last month, turned down Jetking Infotrain’s request to list shares from a preferential allotment, which Jetking is now challenging. The company had planned to use part of the raised funds for cryptocurrency investments.

Meanwhile, Australian Stock Exchange’s (ASX) rules make it nearly impossible for listed firms to hold more than half their assets in cash or crypto. This has caused investors in the country to look elsewhere. For instance, Steve Orenstein, CEO of Locate Technologies, said his company is moving its listing to New Zealand, where the rules are more crypto-friendly.

In the meantime, ASX has recommended companies aiming to invest in crypto to set up exchange-traded funds (ETFs) instead.

Japan however, going against the grain, allows companies to hold large amounts of cash. Crypto treasury models face little resistance, case in point, the country has 14 listed Bitcoin (BTC) holding companies, the most in Asia.

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US Sanctions Chen Zhi, Founder Of Prince Group

Chen Zhi, once seen as a rising business man in the Asian crypto landscape is currently at the center of a global scandal involving a $14 billion crypto scam.

Originally from China, Zhi moved to Cambodia and quickly rose through the ranks of the business elite in the country. He founded Prince Group and expanded into sectors including banking, media and aviation.

But all of that was based on proceedings from his underground cybercrime network.

Investigators in the US and the UK have linked him to over 100 shell companies and crypto wallets used to launder billions in stolen funds.

These operations relied on trafficked workers from neighbouring countries, forced to carry out online scams from guarded compounds.

Regulators in the US and the UK have sanctioned 128 companies linked to Zhi and 17 individuals tied to his scam network, and both these countries have frozen his assets.

He himself has not been located as of yet and hasn’t made any public appearance since his indictment was unsealed.

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Key Takeaways

  • WazirX to relaunch operations in India with zero trading fees and institutional-grade crypto custody via BitGo
  • Asian exchanges crack down on listed firms hoarding crypto as core business
  • Chen Zhi vanishes after U.S. sanctions expose his $14B crypto scam empire

The post This Week In Crypto Asia: WazirX Resumes Operations, Asian Exchanges Push Back On BTC Hoarding, Cambodian Crypto Overlord Gets Sanctioned appeared first on 99Bitcoins.

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