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Singapore Court Clears Path for WazirX Revote Under Zanmai Leadership
Singapore Court Clears Path for WazirX Revote Under Zanmai Leadership
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BTCCSquare news:
The Singapore High Court has authorized Zettai, parent company of Indian crypto exchange WazirX, to conduct a fresh vote on its restructuring plan. This reverses a June 4 rejection and follows July hearings addressing regulatory concerns.
Key amendments shift fund distribution responsibilities from Panama's Zensui to India-based Zanmai Labs. The court simultaneously extended Zettai's moratorium period, providing breathing room for creditor consultations and revote procedures.
"The scheme requires revoting due to crypto regulatory adaptations," stated WazirX co-founder Nischal Shetty. The decision marks a pivotal development for the exchange's operational future amid evolving compliance landscapes.
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