In a landmark legal decision reflecting India’s evolving stance on digital assets, the Supreme Court of India has ruled that cryptocurrencies qualify as “property” that can be owned, traded, and legally protected under Indian civil and economic law.
The ruling came in a case involving a financial dispute between two companies, where cryptocurrencies were used as collateral for an investment agreement. The court stated that digital assets, despite their intangible nature, fall under the legal definition of “property”, similar to intangible assets such as copyrights or trademarks.
In its judgment, the court clarified that Bitcoin, Ethereum, and other digital currencies can be considered private property that can be possessed and transferred, meaning any theft or fraud involving them can now legally be treated as a property crime.
This decision is expected to reshape how banks and regulatory authorities deal with India’s growing cryptocurrency market, which now has over 50 million active users across the country.
Legal experts noted that the ruling could pave the way for clearer and more comprehensive legislation governing the ownership and trading of digital assets, possibly including a more transparent taxation framework.
It’s worth noting that India’s approach to cryptocurrencies has fluctuated in recent years—from an almost total ban in 2018 to allowing regulated platforms to operate under supervision.
Analysts believe the Supreme Court’s decision represents a victory for investors and crypto exchanges alike, solidifying the view that digital currencies are now a legal and economic reality that can no longer be ignored.
🔗 News source : https://www.thehansindia.com/business/cryptocurrency-property-under-indian-law-capable-of-ownership-and-trust-madras-hc-1017864?
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