Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

The Madras Supreme Court declared XRP as a legal asset in India.

robot
Abstract generation in progress

On October 25, 2025, Judge N. Anand Venkatesh of the Madras High Court ruled that cryptocurrency is considered property under Indian law. The case originated from a dispute over 3,532.30 XRP tokens frozen on the WazirX exchange following the hack in July 2024 that caused damages of 230 million USD. The court prohibited Zanmai Labs – the operator of WazirX – from redistributing this asset.

Based on Section 2(47A) of the Income Tax Act, the court determines that digital assets are a type of property that can be owned and entrusted. According to Section 9 of the Arbitration and Conciliation Act, the XRP assets of the plaintiff are legally protected. Zanmai Labs must provide a bank guarantee worth ₹9.56 lakh (~11,500 USD). This ruling sets a precedent for recognizing digital assets as legally protected property.

XRP-2.34%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)