New Delhi, October 26: In a big ruling, the Madras High Court has held that cryptocurrency qualifies as “property” underneath Indian legislation, an asset able to being owned, loved, and held in belief. “There could be little question that cryptocurrency is a property. It’s not a tangible property, neither is it a foreign money. Nevertheless, it’s a property which is able to being loved and possessed (in a helpful type). It’s able to being held in belief,” noticed a single-judge Bench of Justice N. Anand Venkatesh.
Delivering its order, the Madras High Court drew assist from apex court docket verdicts in Ahmed G.H. Ariff vs CWT and Jilubhai Nanbhai Khachar vs State of Gujarat instances to broaden the which means of “property” underneath Indian legislation. “Property within the authorized sense means an combination of rights that are assured and guarded by legislation. It extends to each species of priceless proper and curiosity… every thing that has an exchangeable worth or which works to make up wealth or property or standing,” quoted Justice Venkatesh. ‘No Legal Right To Conduct It’: Madras High Court Says Cock Fights Can’t Be Given Cultural Status in Tamil Nadu.
He additionally famous that cryptocurrency falls throughout the definition of a “digital digital asset” underneath Part 2(47A) of the Earnings Tax Act, 1961, and isn’t handled as a speculative transaction. The ruling got here in a case the place the applicant sought safety of her holdings of three,532.30 XRP cash on the WazirX platform, which had been frozen following a 2024 cyberattack.
The Madras High Court recognised the applicant’s holdings as her property, restraining interference pending arbitration proceedings. Justice Venkatesh noticed that though cryptocurrencies are “streams of 1s and 0s residing in a blockchain managed by the issuer of the cryptocurrency,” they represent an asset “able to being owned, transferred and saved”. “Crypto foreign money shouldn’t be a foreign money stricto sensu, nor can we leap to the conclusion {that a} digital asset is an asset stricto sensu,” the Madras High Court remarked, including that “India has the chance to design a regulatory regime that encourages innovation whereas defending shoppers and sustaining monetary stability.” Bitcoin Price Today, October 26, 2025: BTC Price Remains Stable Around USD 1,11,100 Amid Slight Volatility.
Justice Venkatesh cited a 2020 resolution of the New Zealand High Court in Ruscoe vs. Cryptopia Ltd (in Liquidation), the place the court docket held that cryptocurrencies are a “sort of intangible property” able to being held on belief. “Though it’s only a sequence of 1s and 0s, it’s greater than mere info,” the Madras High Court quoted.
The order comes amid related judicial recognition throughout jurisdictions — the UK High Court in AA vs. Individuals Unknown (2019), the Singapore High Court in ByBit Fintech Ltd v. Ho Kai Xin (2023), and the US federal courts in SEC vs. Ripple Labs (2023) have all handled crypto tokens as property or commodities. With this judgment, the Madras High Court has offered much-needed readability on the authorized standing of cryptocurrencies within the nation, which may have huge implications for taxation, inheritance, insolvency, and contractual enforcement involving digital belongings.
(The above story first appeared on LatestLY on Oct 27, 2025 09:57 AM IST. For extra information and updates on politics, world, sports activities, leisure and life-style, go surfing to our web site latestly.com).
