The Madras High Court has ruled on Saturday that cryptocurrency counts as property under Indian law. This means people can own it and even hold it in trust. Justice N Anand Venkatesh said that although cryptocurrencies are not physical objects or legal currency, they still have all the main features of property.

“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 said.

The case came after a cyberattack on the WazirX exchange , run by Zanmai Labs Pvt Ltd. An investor had bought 3,532.30 XRP coins worth Rs 1,98,516 in January 2024. In July that year, WazirX revealed that one of

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