PANews reported on August 28 that according to CoinDesk, Indian cryptocurrency exchange WazirX has applied to the Singapore High Court for six months to restructure its debts. WazirX stated in court documents that due to the sluggish crypto market and increased regulatory pressure, the company's financial situation has deteriorated and it is unable to repay its debts on time. The company plans to use this time to seek new financing and develop a restructuring plan to resume operations and meet debt obligations. At present, the court has not yet ruled on its request.