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WazirX relocates to Panama after Singapore court blocks restructuring efforts

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Crypto exchange WazirX suffered a major legal blow after the Singapore High Court rejected its restructuring proposal to relaunch operations following a $230 million hack in July 2024. On June 4, WazirX announced that its request for court approval had been denied, saying: “The Honourable Singapore High Court issued an order declining to approve our […]

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Singapore Court Rejects WazirX Restructuring as Exchange Sets Up New Entity in Panama

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The Singapore High Court has rejected the moratorium application filed by Zettai, the parent company of crypto exchange WazirX, which sought to restructure the firm and redistribute funds to users affected by last year’s $234 million hack. Zettai also revealed to the court that in March it had opened a new firm in Panama and

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India May Release Crypto Regulation Discussion Paper in June: Report

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India may unveil a comprehensive discussion paper in June aimed at shaping crypto asset regulations, drawing heavily on guidance from the International Monetary Fund (IMF) and the Financial Stability Board (FSB). This move follows a surge in global acceptance, particularly after U.S. President Donald Trump endorsed digital currencies, signaling a major policy shift. In India,

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India Urged to Cut 30% Crypto Tax as Industry Eyes 6x Growth

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Key Notes Prime Minister Narendra Modi’s government is becoming more receptive to the crypto industry’s concerns following Trump’s inauguration. India’s crypto market, projected to grow from $2.5 billion in 2024 to $15 billion by 2035, is drawing interest from global players like Coinbase and Binance. Despite these challenges, investors and industry groups are pushing for

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India’s Crypto Sector Demands Review on 30% Tax as Trump Support Changes Tone: Report

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India’s crypto sector is reportedly stepping up efforts to lobby the government for tax reforms, sensing an opportunity as officials grow more receptive to digital assets. Industry leaders say engagement with policymakers has increased sharply this year, particularly after Donald Trump’s return to the White House and his vocal support for crypto, the Financial Times

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India Supreme Court Asks Government Why Crypto Still Isn’t Regulated

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India’s Supreme Court has intensified pressure on the government to regulate crypto, slamming bitcoin trading as hawala-like and warning of its unchecked impact on the economy. Supreme Court Urges Central Policy With Crypto Labeled as Hawala-Like Activity The Supreme Court of India urged the central government to establish a clear policy on cryptocurrency regulation, citing

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India’s Supreme Court calls for clear crypto guidelines not outright ban

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India’s Supreme Court has directed regulatory bodies to develop clear guidelines for governing crypto activities in the country, according to a May 20 report from local outlet Bar and Bench. According to the report, the apex court emphasized that regulators should focus on establishing oversight frameworks that reflect the rising adoption of digital assets across

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India’s Top Court Slams Lack of Crypto Regulation, Links Bitcoin to Hawala

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India’s top court just ignited a regulatory firestorm, slamming bitcoin trading as refined Hawala and blasting government delays that leave the crypto market in legal limbo. Indian Supreme Court Calls Bitcoin Refined Hawala, Decries Absence of Regulatory Framework The Supreme Court of India compared bitcoin trading to “a refined way of Hawala business” on Monday

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India’s Supreme Court Likens Bitcoin Trading to Refined Hawala, Slams Lack of Regulatory Clarity

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India’s Supreme Court has sounded a strong alarm on the growing disconnect between the rise of Bitcoin trading in the country and the central government’s sluggish regulatory response. According to a local report, during a hearing on Monday, the apex court likened the unregulated use of Bitcoin to a “refined form of Hawala,” an informal

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