India Officially Recognizes Ripple (XRP) as Property

The Madras High Court in India has made a historic ruling declaring Ripple XRP and all cryptocurrencies as “property” under Indian law.

This happened during a case involving the WazirX exchange, where a user’s 3,532 XRP was frozen after a major hack. The court ruled:

Crypto can be owned, transferred, and stored, so it qualifies as property.

Exchanges like WazirX must treat user tokens as assets held in trust, not something they can freely reallocate.

The user’s XRP must be protected because it is legally her property.

Although this is an interim ruling, it is a major step for India, giving crypto holders stronger legal protection and clearer ownership rights.

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