Singapore Court Extends Moratorium for WazirX Amid Restructuring Case

Singapore's High Court has granted WazirX additional time to present arguments regarding its proposed Scheme of Arrangement, a key step in the exchange's restructuring process. The moratorium, initially set to expire on June 6, 2025, now remains in effect until the court completes its review of supplementary submissions.

The legal protection shields WazirX from creditor actions during this period, buying time for the embattled exchange to finalize its restructuring plans. Court documents reveal the extension was granted under case reference HC/OA 1284/2024, with judicial proceedings expected to continue through the coming months.

WazirX's communications team confirmed the development via social media, emphasizing transparency with users. The exchange's proposed relocation to Panama appears strategically timed to circumvent regulatory challenges in both Singapore and India, where licensing requirements have become increasingly stringent for cryptocurrency platforms.