<ul><li>Indian crypto exchange WazirX sets up an entity in Panama, named Zensui Corporation, to continue crypto operations without a mandatory Singapore license due to tightening regulations.</li><li>Singapore is implementing the Financial Services and Markets Act in June 2022, making it harder for companies to operate crypto businesses without a special license from MAS.</li><li>WazirX is transferring its platform's crypto-related services to a subsidiary in Panama, known for its relaxed crypto regulations, to ensure smoother operations with easier compliance.</li><li>Despite setbacks like the $235M hack in 2021, WazirX continues recovery efforts, faces regulatory scrutiny, and contributes to the broader cryptocurrency adoption landscape in India.</li></ul>

WazirX Sets Up Panama Entity To Escape Singapore Crypto Noose

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