Madras High Court Recognises Cryptocurrency as Legally Protected 'Property'

In a landmark ruling with wide-ranging implications, the Madras High Court has held that cryptocurrency qualifies as "property" under Indian law. The court stated that although intangible, it is an asset capable of being owned, transferred, possessed, and held in trust. This judgment provides significant legal clarity on the status of virtual digital assets in India. The decision aligns with judicial trends in other countries and could influence future regulation, taxation, inheritance, and contractual enforcement involving cryptocurrencies in the country.