Indian Court Rules XRP is Property in Digital Asset Dispute

The Madras High Court ruled that cryptocurrency, including XRP, is legally recognized as property, effectively shifting how crypto claims are handled within India’s legal framework. This decision arises from a WazirX customer dispute where her 3,532.30 XRP were frozen following the platform’s 2024 security breach and restructuring. The Court upheld that these assets belong to the user, and clarified that cryptocurrency is not treated as speculative transactions within this context. This landmark ruling clarifies the legal status of cryptocurrency in India by aligning it with the country’s definition of Virtual Digital Asset (VDA).