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Indian Court Rules Wazirx Operator Responsible for Safeguarding Frozen Assets
Indian Court Rules Wazirx Operator Responsible for Safeguarding Frozen Assets
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BTCCSquare news:
India's crypto landscape has shifted decisively with a landmark Bombay High Court ruling that solidifies crypto exchanges' fiduciary responsibilities. The court upheld an arbitral tribunal's order holding Zanmai Labs Private Limited—operator of Wazirx—accountable for protecting frozen assets, marking a pivotal moment for investor protections in digital asset markets.
The ruling underscores the growing regulatory scrutiny facing crypto exchanges globally. By enforcing fiduciary duties, Indian courts are aligning with broader trends of institutionalizing safeguards for retail participants in volatile digital asset markets.
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