Indian Court Rules Cryptocurrency is Property, Blocks WazirX XRP Redistribution

In a landmark ruling that has significant implications for cryptocurrency regulation in India, the Indian court has blocked WazirX from altering the distribution of its users’ XRP following a $234 million hack. The decision was made after the exchange proposed redistributing user assets to address losses sustained in July 2024. This ruling establishes clear protection for digital asset ownership and sets precedent for future legal frameworks surrounding cryptocurrency.