Madras HC recognises cryptocurrency as ‘property’ under Indian law

In a significant ruling the Madras High Court has recognised cryptocurrency as a “property” under Indian law that is capable of being possessed and and held in trust, pavign the way for Indian courts to intervene in crypto disputes, according to experts.

“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,” said Justice N. Anand Venkatesh in ruling.

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