WazirX B2C Developments: Four-Month Moratorium Granted by Singapore Court
B2C Developments in Cryptocurrency: WazirX's Recent Court Approval
The Singapore courts have granted cryptocurrency exchange WazirX a four-month moratorium, the company said. The court has approved the moratorium with specific conditions.
- WazirX is required to disclose wallet addresses through a court affidavit.
- Address user queries raised during court proceedings.
- Release detailed financial information.
- Ensure future voting on court applications is overseen by independent parties.
Enhancing Transparency in B2C Operations
These measures aim to enhance transparency and safeguard the interests of all stakeholders throughout the resolution process. WazirX claimed that from the onset of the proceedings, the company has actively engaged with creditors, demonstrating its commitment to addressing their concerns.
Furthermore, the company highlighted the court’s acknowledgment of its prompt response in filing for the moratorium, which WazirX asserts will pave the way for the fastest, creditor-approved, and legally binding resolution to restore crypto balances. This ensures a fair and timely outcome for all stakeholders.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.