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Madras High Court Declares Cryptocurrency As Property Under Indian Law

By Ruchi SharmaOctober 28, 20251 Mins read659 Views

Madras High Court Declares Cryptocurrency As Property Under Indian Law

The Madras High Court has recognized cryptocurrency as property under Indian law — a historic decision expanding legal protection for investors.

Justice N. Anand Venkatesh clarified that while cryptocurrencies aren’t legal tender, they are assets that can be possessed, transferred, and held in trust, aligning with India’s Income Tax Act definition of virtual digital assets.

The case stemmed from frozen XRP holdings on WazirX following a 2024 cyberattack. The ruling establishes that Indian courts hold jurisdiction under Section 9 of the Arbitration and Conciliation Act, even in disputes involving foreign proceedings, if investors or assets are in India.

Crucially, the bench rejected a “Socialisation of Losses” proposal, ruling that user assets cannot be redistributed to offset others’ losses. Legal experts hailed the judgment as a watershed moment, affirming ownership rights, custodial accountability, and judicial protection for India’s digital asset holders.

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Ruchi Sharma -

Ruchi Sharma is a seasoned media professional with over 20 years of experience in the industry, including 4 years dedicated to Blockchain Industry and Web3. Holding a Master’s degree in Mass Communication and a Bachelor’s degree in Commerce, Ruchi combines academic excellence with a dynamic career that spans across roles as an Anchor, Writer, Correspondent, and Producer.

Her transition into the blockchain sector reflects a deep passion for emerging technologies, with a sharp focus on NFTs, Blockchain innovation, and Decentralized ecosystems. Leveraging her extensive media background, Ruchi excels at breaking down complex concepts into engaging narratives, making her a trusted voice for audiences navigating the fast-evolving Web3 space.

Known for her editorial precision and journalistic depth, Ruchi brings a rare blend of storytelling expertise and technical insight, ensuring her work remains impactful, informative, and forward-looking in the rapidly transforming digital economy.