A recent ruling by the Indian Supreme Court has cast uncertainty over the future of WazirX and its users. The court dismissed a public interest petition filed by 54 WazirX users seeking clarity on regulations following the $234 million hack in 2022. The court, citing a lack of specific laws governing crypto activities, determined that their intervention was not warranted. This ruling further highlights India’s struggle to establish clear and comprehensive crypto regulations amidst growing global interest in blockchain technology. WazirX, founded in 2018 and acquired by Binance in 2019, has been operating within a regulatory vacuum characterized by a complex mix of tax implications (30% on gains, 1% TDS) and the lack of any comprehensive legal framework for crypto exchange activities. The decision leaves Indian crypto enthusiasts facing uncertainty as they grapple with the complexities surrounding their financial assets and the future of the sector.