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WazirX Flees to Panama, Rebrands as Zensui in Latest Crypto Shell Game
WazirX Flees to Panama, Rebrands as Zensui in Latest Crypto Shell Game
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Another day, another crypto exchange playing jurisdictional hopscotch. WazirX—once India's crypto darling—has packed its bags for Panama's friendly regulatory shores, emerging as 'Zensui.'
Tax haven shuffle: The move follows mounting pressure from Indian authorities cracking down on digital asset firms. Panama's loose oversight and zero capital gains tax make it a magnet for firms allergic to compliance.
Rebrand roulette: The new name (Japanese for 'good water') can't wash away lingering questions. Users report withdrawal delays, while blockchain analysts note suspicious outflows pre-migration.
Just another Tuesday in crypto—where the only constant is creative geography and investors left holding the bag when regulators come knocking.
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