The Singapore High Court dismissed Zettai’s restructuring plan due to insufficient transparency regarding its move to Panama and rebranding to Zensui

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India-serving but Singapore-based crypto exchange WazirX is moving its operations to Panama after local courts declined to approve the firm’s restructuring plan.
According to Sonu Jain, one of the petitioners in the case representing WazirX users, the court’s dismissal of the exchange’s moratorium application highlighted the lack of transparency from the exchange’s side. The exchange’s parent firm had not revealed to the court or to its users about its move to Panama and rebranding to Zensui.