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The Madras High Court has ruled that cryptocurrency constitutes property under Indian law, confirming that it can be owned, enjoyed, and even held in trust. Delivering the decision in Rhutikumari v. Zanmai Labs Pvt Ltd, Justice N Anand Venkatesh stated, “There can be no doubt that ‘crypto currency’ is a property. It is not a tangible property nor is it a currency. However, it is a property, which is capable of being enjoyed and possessed (in a beneficial form). It is capable of being held in trust.”

The Court was dealing with a plea under Section 9 of the Arbitration and Conciliation Act, 1996, filed by an investor whose holdings on the WazirX platform were frozen following a massive cyberattack in 2024. The applicant

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