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BTCC / BTCC Square / Global Cryptocurrency /
Singapore Court Approves Revote for WazirX Creditor Scheme, Extends Moratorium

Singapore Court Approves Revote for WazirX Creditor Scheme, Extends Moratorium

Author:
Global Cryptocurrency
Published:
2025-07-19 08:49:02
7
2
BTCCSquare news:

The Singapore High Court has greenlit a revote on Zettai Pte Ltd's amended Scheme of Arrangement, offering creditors a renewed chance to determine the fate of the embattled WazirX crypto exchange. The decision overturns a June 2025 ruling and extends creditor protections through mid-September, buying time for potential platform resuscitation.

Legal maneuvering by WazirX's parent company persuaded judges to reconsider the restructuring plan. Creditors will receive updated documentation ahead of a townhall meeting, with the first potential distributions contingent on court approval of any newly ratified scheme. The outcome could Ripple through India's crypto landscape, where WazirX once dominated rupee trading pairs.

|Square

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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