WazirX Schedules July 30 Creditor Re-Vote As Per Amended Recovery Plan
- Zanmai replaces Zettai to manage token access and WazirX operations post-scheme approval.
- Token access starts within 10 business days after scheme becomes effective.
- Scheme approval needs majority creditor vote with 75% value threshold to proceed.
WazirX has proposed an amended Scheme of Arrangement for its recovery plan and is now calling for a new vote from its creditors.
The main revision shifts operational control to Zanmai, a Financial Intelligence Unit (FIU)-India registered entity, which will now oversee token access and exchange operations once the plan is approved.
The amended scheme officially replaces the previously named Zettai with Zanmai as the facilitator. Creditors will continue to receive tokens as reflected on their Rebalanced Net Liquidation Portfolio Account (NLPA) pages.
Replaces Zettai with the FIU-registered Zanmai
According to the announcement, Zanmai is set to enable token access for users within 10 business days after the plan’s effective date.
WazirX confirmed that all other key elements of the original scheme including exposure to market appreciation and participation in future profit sharing remain intact.
Importa…
The post WazirX Schedules July 30 Creditor Re-Vote As Per Amended Recovery Plan appeared first on Coin Edition.
Read More
India Pressed to Act on Stablecoin Rules as Stripe Tempo Launch and $240B Supply Put Pressure on Policy
India Avoids Full Crypto Regulation, Citing Fear of Legitimacy and Systemic Risks
WazirX Schedules July 30 Creditor Re-Vote As Per Amended Recovery Plan
- Zanmai replaces Zettai to manage token access and WazirX operations post-scheme approval.
- Token access starts within 10 business days after scheme becomes effective.
- Scheme approval needs majority creditor vote with 75% value threshold to proceed.
WazirX has proposed an amended Scheme of Arrangement for its recovery plan and is now calling for a new vote from its creditors.
The main revision shifts operational control to Zanmai, a Financial Intelligence Unit (FIU)-India registered entity, which will now oversee token access and exchange operations once the plan is approved.
The amended scheme officially replaces the previously named Zettai with Zanmai as the facilitator. Creditors will continue to receive tokens as reflected on their Rebalanced Net Liquidation Portfolio Account (NLPA) pages.
Replaces Zettai with the FIU-registered Zanmai
According to the announcement, Zanmai is set to enable token access for users within 10 business days after the plan’s effective date.
WazirX confirmed that all other key elements of the original scheme including exposure to market appreciation and participation in future profit sharing remain intact.
Importa…
The post WazirX Schedules July 30 Creditor Re-Vote As Per Amended Recovery Plan appeared first on Coin Edition.
Read More
India Pressed to Act on Stablecoin Rules as Stripe Tempo Launch and $240B Supply Put Pressure on Policy