WazirX Resumes Trading Amid Regulatory Scrutiny in Crypto Sector
- Indian crypto exchange WazirX will restart trading on Oct. 24, offering zero-fee trading for the first month.
- The exchange was hacked for approximately $240 million by the Lazarus Group, leading to a restructuring approved by Singapore’s High Court.
- UK’s Financial Conduct Authority (FCA) has issued hundreds of warnings to unregistered exchanges, including HTX owned by Justin Sun.
- Russia’s Ministry of Finance plans new regulations for cross-border crypto payments amid ongoing sanctions from the EU targeting its state-backed stablecoin A7A5.
- Hyperscale Data has allocated $60 million to its Bitcoin treasury, representing nearly two-thirds of its market valuation.
As WazirX reopens after a significant hack and legal challenges, regulatory bodies like the FCA are tightening oversight on crypto exchanges globally, reflecting a growing concern over consumer protection and market integrity.
WazirX’s recovery follows a major theft that impacted nearly half of its assets, while Hyperscale’s substantial investment in Bitcoin highlights ongoing institutional interest in Bitcoin.
