Daijiworld Media Network - Chennai

Chennai, Oct 26: I n a landmark ruling, the Madras High Court has declared that cryptocurrency qualifies as “property” under Indian law, capable of being owned, enjoyed, and held in trust.

Delivering the order, Justice N. Anand Venkatesh noted, “There can be no doubt that cryptocurrency 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 drew on precedent from Ahmed G.H. Ariff vs CWT and Jilubhai Nanbhai Khachar vs State of Gujarat to expand the legal understanding of “property,” emphasizing that it includes every valuable right or interest with exchangeable value.

The ruling was delivered

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