The decision also puts India in line with places like the United States and the United Kingdom, where crypto is also treated as property in certain cases.
The case began after a user on WazirX, a crypto exchange, filed a complaint. Her account held over 3,500 XRP, worth about $9,400. After a major hack at the exchange in 2024, WazirX froze many accounts and planned to spread the loss across users. She argued this was unfair and violated her rights as an owner.
The court agreed that the user’s XRP was her property. It ordered WazirX to protect the funds and provide a bank guarantee while the case continues. The judge made it clear that crypto is something you can hold, control, and trust, even though it is digital.
This is a major first for India. The ruling gives crypto owners legal protection. In simple terms, if you own crypto on an exchange, the exchange cannot use your assets to cover its losses without legal grounds.
This ruling brings clarity for crypto users in India. For the first time, a court recognized digital coins as personal property. It gives investors more confidence and may push lawmakers to build clearer rules for crypto trading and protection.
The decision also puts India in line with places like the United States and the United Kingdom, where crypto is also treated as property in certain cases.
Legal certainty is good news for XRP in India. More trust may bring more users and trading activity. Exchanges may also update their rules to protect user assets better.
India is still shaping its crypto policy. But this court ruling is a key moment. It shows that digital assets like XRP are not just tokens online, they are real property with legal rights.
The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
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“Madras High Court recognized cryptocurrencies as legally protectable property, upheld Indian jurisdiction over assets held by Indian investors” mhc.tn.gov.in/judis/index.ph…
🚨 Urgent: Indian Exchange Hacked 🚨 @WazirXIndia India’s Safe Multisig wallet on the $ETH network has been compromised. A total of $234.9M has been moved to a new address. Each transaction’s caller is funded by @TornadoCash. Show more
