Madras HC says cryptocurrencies are legally ownable property in India
Big news for crypto fans: the Madras High Court just ruled that cryptocurrencies are legally ownable property in India.
This came after investor Rhutikumari's assets were frozen by WazirX following a 2024 cyberattack.
The court told WazirX's operator, Zanmai Labs, to provide a bank guarantee of ₹9.56 lakh and made it clear that digital coins count as property—even if you can't touch them.
Justice pointed to global cases, like New Zealand's Ruscoe vs Cryptopia
Justice Venkatesh pointed to global cases (like New Zealand's Ruscoe vs Cryptopia) and said crypto is "intangible" but still "property capable of being enjoyed and possessed in a beneficial form."
This decision means Indian investors now have stronger legal protection for their digital assets, and it highlights the need for clearer rules around crypto—something regulators are already discussing.