Madras High Court recognises cryptocurrency as legal property in India

The Madras High Court has ruled that cryptocurrencies qualify as “property” under Indian law, marking a landmark decision in the digital-asset space. The judgment, emerging from the WazirX hack case, affirms that cryptocurrencies are capable of being owned, transferred and held in trust, aligning with the definition of virtual digital assets under India’s Income Tax Act. Experts say the verdict strengthens investor rights and custody frameworks, though regulatory gaps remain. This may influence future policy and legal outcomes for digital-asset platforms operating in India.