India has taken a major step forward in virtual currency legislation. The Madras High Court has ruled that digital assets like XRP count as legal property. This means that cryptocurrencies are treated like something that can be owned and protected under the law.
The case began after users of WazirX, a cryptocurrency exchange, filed a complaint. She had over 3,500 XRP (worth about $9,400) stored in her account. After a major exchange hack occurred in 2024, WazirX froze many accounts and planned to spread the losses across its users. She argued that this was unfair and violated her rights as an owner.
“The Madras High Court recognizes virtual currencies as legally protectable property and upholds India’s jurisdiction over assets held by Indian investors.” pic.twitter.com/behzyK1Hxc
—Vijay Shekhar Sharma (@vijayshekhar) October 25, 2025
Court rules that cryptocurrencies are property
The court agreed that the user’s XRP is her property. The agency ordered WazirX to protect the funds and provide bank guarantees while the lawsuit continues. The judge made clear that cryptocurrencies, even if digital, can be held, controlled, and trusted.
This is a first for India. This ruling provides legal protection to virtual currency owners. Simply put, if you own cryptocurrencies on an exchange, the exchange cannot use your assets to cover losses without a legal basis.
What it means for Indian investors
This judgment brings clarity to crypto users in India. For the first time, a court recognized digital coins as personal property. This could give investors more confidence and prompt lawmakers to create clearer rules for trading and protecting cryptocurrencies.
The decision also brings India in line with countries like the US and UK, which also treat cryptocurrencies as property in certain cases.
🚨 URGENT: Indian exchange hacked 🚨@WazirXIndia Secure multisig wallet in India $ETH Your network has been compromised.
A total of $234.9 million was moved to the new address. The caller of each transaction is provided with the following funds: @Tornado. pic.twitter.com/13NrHkQTaZ
— Cointelegraph (@Cointelegraph) July 18, 2024
XRP and its impact on the virtual currency market
Legal certainty is good news for XRP in India. Increased trust can lead to more users and trading activity. Exchanges may also update their rules to better protect user assets.
India is still developing its crypto policy. However, the court’s decision is an important moment. This shows that digital assets like XRP are not just online tokens, but real estate with legal rights.
Disclaimer
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