Is Crypto Getting Legal Recognition In India? Let's understand what is a turning point for Digital Asset Regulation 👇
The Madras High Court has recognized cryptocurrency as “property” under Indian law. This ruling, stemming from Rhitukumari vs. WazirX, could reshape how digital assets are treated in legal and financial frameworks across the country.
So what does this mean?
- Crypto is classified as a Virtual Digital Asset under the Income Tax Act, not a speculative instrument.
- Indian courts have asserted jurisdiction over crypto transactions involving domestic users and banks.
- Exchanges must uphold transparency, custodial responsibility, and investor rights.
Justice N. Anand Venkatesh’s judgment seems a bold step toward aligning India’s legal stance with global norms from the UK to Singapore, where crypto is already treated as a form of property.
This ruling doesn’t just protect one investor. It sets a precedent that could influence:
- Regulatory clarity
- Taxation framework
- Consumer protection standards
- Exchange accountability
As someone working at the intersection of finance, law, and technology, I see this as a signal. India is ready to engage with digital assets seriously; not just as a trend, but as a legitimate part of our financial ecosystem. What do you think?
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