Supreme Court Clears WazirX of Allegations, Impacting India’s Crypto Landscape

The Supreme Court of India has dismissed a petition against the cryptocurrency exchange WazirX, filed by users in October 2023. This decision marks a significant development for the Indian crypto ecosystem as it clarifies the legal framework governing exchanges like WazirX. While users had raised concerns about potential irregularities at WazirX, the court found insufficient evidence to warrant further action. This ruling, while highlighting the evolving legal landscape for cryptocurrencies in India, is likely to impact other exchanges operating within the country and could influence their operational strategies going forward.