A report says that India’s Madras High Court has ruled to recognize XRP as a property, granting it legal protection under Indian criminal law. The decision emerged from a petition filed by Rhutikumari, a WazirX user whose account containing 3,532.30 XRP, worth about $9,400, was frozen following the platform’s response to a July 2024 hack that resulted in losses exceeding $235 million . The exchange had proposed a “socialization of losses” plan to spread the financial damage across all users, prompting Rhutikumari to challenge what she viewed as an infringement of her ownership rights. WazirX maintained that the issue fell under a Singapore-approved restructuring plan. However, the Indian court ruled that it retained jurisdiction since the petitioner used an Indian bank account and accessed the platform domestically. BIG: India’s Madras High Court has legally recognized $XRP as property, granting it protection under criminal law. pic.twitter.com/RsC66YZWob — Cointelegraph (@Cointelegraph) November 5, 2025 Court Affirms Digital Assets as Property Under Indian Law Justice N. Anand Venkatesh ruled that digital assets, such as XRP, are property capable of being possessed and held in trust, affirming their recognition under Indian law. The court described cryptocurrencies as intangible assets that can be owned and transferred, aligning them with property classifications under Section 2(47A) of the Income Tax Act. In its interim order, the court prohibited Zanmai Labs, the operator of WazirX, from reallocating the petitioner’s XRP and instructed the company to provide a bank guarantee of approximately $11,500 pending the resolution of the case. The decision effectively grants crypto holders in India legal recognition of ownership and protection from unauthorized reallocation of their digital assets, similar to how Bitcoin is recognized in China . Legal Clarity for Indian Crypto Investors Banks in India are already conducting tests with XRP , and the ruling offers long-awaited clarity for Indian investors by recognizing XRP and similar assets as personal property rather than unsecured exchange claims. Cointelegraph reported that this may push exchanges to review custody policies and restructuring plans. The decision also strengthens investor confidence by ensuring greater protection for token holders during disputes, insolvencies, or exchange-related issues. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 India Aligns with Global Jurisdictions With this decision, India joins jurisdictions such as the United States, the United Kingdom, and Singapore, where courts and regulators have provided some clarity to crypto ownership . The recognition of XRP as property in India is expected to have a positive influence on the asset’s perception and demand within the country. At the time of the ruling, XRP was trading near $2.3 after some notable declines in recent weeks . Legal certainty around ownership rights could strengthen domestic investor confidence and reinforce India’s emerging position within the global digital asset landscape. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Big Victory for XRP In India. Here’s the Latest appeared first on Times Tabloid .
