The Madras High Court (MHC) has indeed issued a landmark ruling recognising cryptocurrencies 11.25 31/10/2025

 

 

 

 

Yes  you’re correct. The Madras High Court (MHC) has indeed issued a landmark ruling recognising cryptocurrencies as “property” under Indian law.

 What the court held
 

The decision was rendered in the case of Zanmai Labs Pvt Ltd (which operates the exchange Wazir X) vs an investor (filed as Rhutikumari v Zanmai Labs Pvt Ltd).

In the order, Justice N. Anand Venkatesh declared:

 “There can be no doubt that ‘crypto currency’ is a property. It is not a tangible property nor is it a currency. However, it is a property which is capable of being enjoyed and possessed (in a beneficial form). It is capable of being held in trust.”

The court noted that although cryptocurrencies are intangible (just “streams of 1s and 0s” on a blockchain), they nonetheless meet the criteria of property under Indian jurisprudence: they are definable, transferable, capable of exclusive control and store of value. 

 It also referenced Section 2(47A) of the Income Tax Act, 1961 which classifies “virtual digital assets”, and noted that in India these are not treated as speculative transactions. 

 The court emphasized that the funds/assets in question were held via an Indian bank account and platform, giving Indian courts jurisdiction (despite the exchange’s international links).
 

  Why this is a big deal
 

This is the first timean Indian High Court has explicitly held that cryptocurrencies qualify as “property” under Indian law. 

 It gives clearer legal standing to crypto-asset holders in India.

 For example: rights of ownership, rights to seek injunctions or asset protection, ability to claim trust or custodian obligations, etc.

 

 How crypto assets are treated in courts / disputes (e.g., freezing, custody, exchange liability)
  

Taxation and asset-classification debates, since “property” status matters.
 

 Investor protection: if crypto is property, platforms may have greater fiduciary duties or greater liabilities for mis management or hacks.

It also signals a shift in the regulatory/ judicial mindset: rather than treating crypto as purely speculative or “grey area”, this ruling gives them a tangible legal footing within Indian property rights frameworks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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