In a significant ruling the Madras High Court has recognised cryptocurrency as a “property” under Indian law that is capable of being possessed and and held in trust, pavign the way for Indian courts to intervene in crypto disputes, according to experts.

“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,” said Justice N. Anand Venkatesh in ruling.

The judgement came while the court was hearing a petition filed by a crypto investor whose XRP holdings on crypto exchange WazirX were frozen after a 2024 cyberattack. She had contended that assets held by her were distinct from the Ethereum tokens

See Full Page