The founder of WazirX stated that the ownership dispute with Binance has entered the litigation stage.

PANews reported on December 26th that, according to TheStreet, Nischal Shetty, founder of the Indian cryptocurrency exchange WazirX, stated in an interview that the long-standing ownership dispute between WazirX and Binance has entered the litigation stage. Shetty reiterated that WazirX was sold to Binance in late 2019 or early 2020, although Binance has since denied holding any shares.

Shetty stated that the current focus is on the platform's restart and reconstruction, and the final outcome of the ownership dispute will be decided by law. He emphasized that the dispute will not have a significant operational impact on users, and that WazirX's updated terms of service clearly outline the ownership issues and dispute explanations, providing users with greater transparency. WazirX has now resumed operations after completing the restructuring process approved by the Singapore court.