India-based crypto exchange WazirX has once again sought the support of its users for a revised restructuring scheme after its initial proposal was struck down by a Singapore court. The court reportedly dismissed the first plan due to compliance and execution concerns, creating uncertainty around the exchange’s revival roadmap.

Fresh Voting for Community Backing

In response, WazirX launched a second round of voting, inviting its user base to support a restructured plan that aims to safeguard investor funds and provide operational stability. According to sources familiar with the matter, the new proposal incorporates changes suggested by regulators and legal advisors to align with cross-border compliance standards.

Users Show Continued Support

Despite earlier setbacks, WazirX’s community of traders and investors has shown resilience, with a significant portion of users casting their votes in favor of the revised restructuring scheme. The move reflects ongoing trust in the exchange’s ability to overcome legal hurdles and re-establish its market presence.

Focus on Recovery and Transparency

The revised plan reportedly focuses on debt repayment, enhanced transparency, and a phased strategy for resuming services. WazirX management emphasized that user funds remain a top priority and pledged to maintain open communication during the restructuring process.

Next Steps in Revival Journey

With user backing secured again, WazirX is expected to resubmit its revised proposal before the Singapore court for approval. If accepted, the plan could pave the way for the exchange’s gradual recovery in India’s evolving crypto landscape, which continues to be shaped by regulatory scrutiny.