On October 25, 2025, the Madras High Court declared XRP and cryptocurrencies as “property” under Indian law, granting interim protection to a WazirX user whose 3,532.30 XRP (worth ~₹9.56 lakh) was frozen after the exchange’s $235M hack in July 2024, per BusinessToday. Justice N. Anand Venkatesh ruled that digital assets are identifiable, transferable, and controllable via private keys, capable of ownership, enjoyment, and trust, per CoinDesk. The court barred Zanmai Labs (WazirX’s operator) from reallocating the user’s XRP under its Singapore-approved restructuring, per Fortune India. X posts from @Msageer_ highlight the ruling’s relief for frozen funds, per [post:1].
The decision, under Section 9 of the Arbitration and Conciliation Act, 1996, affirms Indian courts’ jurisdiction over domestic crypto transactions, rejecting WazirX’s Singapore seat claim, per Bar and Bench. It mandates a bank guarantee for the user’s holdings until arbitration concludes, per NDTV. This first-of-its-kind precedent expands “property” under Indian law, citing Supreme Court cases like Ahmed GH Ariff vs CWT and Jilubhai Nanbhai Khachar vs State of Gujarat, per The Hindu BusinessLine. Exchanges must now treat user assets as distinct from their own, potentially reshaping custodial policies, per CoinGape. X user @theonlyshiyam urges XRP holders to file similar claims, per [post:2].
The ruling provides legal clarity for taxation, inheritance, insolvency, and contract enforcement, per Organiser. It contrasts with India’s 2024 PMLA notices to offshore providers and could influence FIU-IND registrations, per Phemex News. Community sentiment is positive, with lawyers like Rashmi Deshpande noting hope for WazirX hack victims, per The Hindu BusinessLine. Globally, it aligns with jurisdictions like the UK treating crypto as property, per. X posts from @chamilravinda celebrate the advancement for India’s crypto future, per [post:0]. XRP trades at $2.63, up 1.2% amid bullish momentum, per CoinDesk.
This precedent may spur regulatory evolution, encouraging innovation while protecting consumers, per Justice Venkatesh. Exchanges like WazirX face heightened scrutiny, with restructuring delays possible, per CoinTelegraph. Investors should verify holdings via FIU-IND at fiuindia.gov.in and monitor arbitration outcomes. XRP support at $2.50 eyes $3 breakout, per CoinPaper. Diversify into USDC or ETH ($4,070) with stop-losses below $2.20, per TradingView. Follow @TheBlock__ on X for updates. The ruling could unlock $10B in Indian crypto investments by 2026, per, but exchange risks persist.
