This Week In Crypto Asia: WazirX Restarts Operations, Asian Exchanges Respond To BTC Accumulation, Cambodian Crypto King Faces Sanctions

By 2025, the digital currency scene in Asia has undergone significant changes. Up until last year, it could have been characterized as primarily experimental, almost akin to a secondary project.

However, beginning in 2025, cryptocurrency in Asia has experienced a considerable increase in adoption due to more defined policy guidelines. Nations such as India, South Korea, Japan, and Vietnam are spearheading this movement, each contributing uniquely to trading volumes, institutional investments, and retail involvement.

Recently, there have been notable advancements in this area. Here’s a summary.

Indian Trading network WazirX Set to Restart Operations on 24 October 2025

WazirX, the Indian cryptocurrency exchange, is poised to restart its services in India on 24 October 2025. The High Court of Singapore has authorized the exchange to resume operations following a successful restructuring effort.

Initially, WazirX will provide zero trading fees across all pairs. This initiative aims to encourage more users to engage with the platform without incurring excessive charges. To start, WazirX will offer a limited selection of crypto-to-crypto pairs along with the USDT/INR pair, with additional trading pairs expected to be introduced gradually as the trading protocol stabilizes.

WazirX Crypto withdrawals begin today.

INR withdrawals are now live pic.twitter.com/9Giac7Imns

— BTC EXPERT INDIA (@Btcexpertindia) October 24, 2025

Meanwhile, WazirX has fully committed to enhancing its protection and has teamed up with BitGo, an industry leader in cryptocurrency custody solutions. Following a prolonged restructuring after a exploit in 2024, it is essential to bolster security. The collaboration with BitGo will guarantee that funds are safeguarded with insured, institutional-grade protections in place.

A local announcement outlet quoted founder Nischal Shetty saying, “At the core of everything we do is our mission to make cryptocurrency accessible to every Indian… This isn’t merely a return to operations; it’s a reaffirmation of our integrity which we’ve always aimed for.”

In preparation for its reopening, the Indian trading protocol has successfully carried out coin swaps, mergers, de-listings, and rebranding efforts.

Additionally, it plans to start distributing tokens to creditors within ten business days and will issue Recovery Tokens to facilitate the settlement of outstanding claims.

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Asian Exchanges Resist Corporate Crypto asset Hoarding

Some of the largest stock exchanges in Asia are beginning to take a stand against cryptocurrency treasury firms that are publicly traded. Hong Kong Exchanges and Clearing (HKEX) has recently denied five companies from obtaining Digital Asset Treasury (DAT) status based on previous decisions regarding the liquid asset holdings of listed firms.

Strategy Inc., under Michael Saylor’s leadership, popularized the concept of transforming a company’s operational model to that of DATs, encouraging numerous companies to follow suit.

Your BTC proxies could be at a breaking point.
Asia is shutting the door on crypto-treasury stocks (HK/India/Australia), while Japan remains open—but MSCI may exclude them from indexes
Discover where discounts, liquidity issues, and forced sell-offs may occur next—read the full analysis. … pic.twitter.com/tzIGiAzvVv

— Biturai | Krypto Trading (@biturai_trading) October 22, 2025

Nonetheless, the growth momentum is now slowing. A report from Singapore’s 10X Research estimates that retail investors have incurred losses of about $17 billion in DAT firms. Shares of Boyaa Interactive, a Hong Kong-based DAT company, fell nearly 4%, underperforming the overall market. Other crypto-centric companies like DL Holdings and Ourgame also witnessed declines.

After the Illusion: How BTC Treasury Companies Must Transform Beyond NAV Mythology

This report is significant

The era of financial illusions is concluding for Bitcoin treasury companies.

They created billions in fictitious wealth by trading shares significantly above their actual BTC valuations—until the… pic.twitter.com/mS34Wqhzmm

— 10x Research (@10x_Research) October 17, 2025

Last month, the Bombay Stock Exchange (BSE) denied Jetking Infotrain’s request to list shares from a preferential allotment, a decision Jetking is currently contesting. The company intended to utilize part of the capital for digital currency investments.

Meanwhile, the regulations at the Australian Stock Trading protocol (ASX) make it exceedingly difficult for listed firms to maintain more than half their assets in cash or crypto. This has prompted investors in Australia to explore options elsewhere. For instance, Steve Orenstein, CEO of Locate Technologies, remarked that his company is relocating its listing to New Zealand, where the regulations are more accommodating to crypto.

Consequently, ASX has advised firms wishing to invest in crypto to create exchange-traded funds (ETFs) instead.

Conversely, Japan stands apart by permitting companies to retain substantial cash reserves. Crypto treasury models face minimal opposition, as evidenced by the fact that Japan has 14 publicly listed Bitcoin (Bitcoin) holding companies, the highest in Asia.

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U.S. Imposes Sanctions on Chen Zhi, Founder of Prince Group

Chen Zhi, once regarded as an emerging entrepreneur in the Asian digital currency arena, is now embroiled in a worldwide scandal associated with a $14 billion crypto asset fraud.

Originally hailing from China, Zhi relocated to Cambodia and rapidly ascended within the business elite of the nation. He established the Prince Group and expanded into industries like banking, media, and aviation.

The U.S. Treasury has identified Chen Zhi and the Prince Group as a transnational criminal organization, alleging that they orchestrated global scams and money-laundering operations from Cambodia.

Numerous companies and individuals affiliated with Prince, including those in real estate and banking,… pic.twitter.com/HRrduFJ6RZ

— Jacob in Cambodia (@jacobincambodia) October 15, 2025

However, these accomplishments stem from activities tied to his underground cybercrime organization.

U.S. and UK investigators have connected him to over 100 shell companies and digital currency wallets used to launder billions in illicit funds.

These operations reportedly relied on trafficked individuals from neighboring nations, coerced into executing online fraud schemes from secured sites.

WARNING: CHEN ZHI, BILLIONAIRE UNDER U.S. SANCTIONS & HEAD OF PRINCE GROUP MOVING FUNDS

Chen Zhi – billionaire international criminal, leader of multi-billion dollar Prince Group, and global fraudster sanctioned by the U.S. Government has just transferred $1.72 Billion worth of $BTC.

This could… pic.twitter.com/FT6SCTW5zh

— Arkham (@arkham) October 22, 2025

Regulatory authorities in the U.S. and the UK have imposed sanctions on 128 companies associated with Zhi and 17 individuals linked to his fraudulent protocol, resulting in the freezing of his assets in both jurisdictions.

He remains untraceable and has not made any public appearances since the reveal of his indictment.

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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.