An Indian high court has recognised cryptocurrency as a form of property, following the lead of courts in England, Singapore and New Zealand.
In a landmark decision handed down on 25 October, the Madras High Court recognised Cryptocurrency as property under India law capable of being enjoyed, possessed and held in trust. The judgment, delivered by Justice N Anand Venkatesh, clarified that while cryptocurrency cannot be considered a tangible form of property, it nonetheless satisfies broad definitions of the term under the Constitution of India.
