Altcoins News
By Sakamoto Nashi
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“Cryptocurrency Is Property,” Says Justice Venkatesh. Justice Venkatesh’s ruling set a clear precedent, stating:
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XRP Case Strengthens Investor Protection. The court clarified that the applicant’s XRP holdings were completely distinct from the assets…
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A Milestone for India’s Crypto Regulation. This judgment marks a turning point for India’s digital asset ecosystem, providing much-needed…
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Broader Implications for the Crypto Industry. By classifying cryptocurrencies like XRP as property, the Madras High Court has effectively…
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Conclusion. The Madras High Court’s recognition of XRP as property represents a major leap forward for India’s…
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In a historic decision for India’s cryptocurrency sector, the Madras High Court has officially recognized XRP as a form of property under Indian law.
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The case involved an investor whose 3,532.30 XRP coins, purchased in January 2024, were frozen following a massive cyberattack on WazirX that resulted in the loss of…
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“There can be no doubt that cryptocurrency is a property. It is not a tangible property, nor is it a currency.
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He elaborated further on the legal concept of property, explaining that it encompasses all forms of valuable rights or interests, tangible or intangible, that hold exchangeable…
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This recognition aligns with global legal interpretations, notably New Zealand’s Ruscoe v. Cryptopia Ltd.
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“What were held by the applicant as cryptocurrencies were 3,532.30 XRP coins. What were subjected to cyber attack on 18.7.
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Based on this finding, the High Court granted interim protection to the investor, restraining Zanmai Labs and its directors from redistributing or reallocating her XRP holdings…
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Justice Venkatesh emphasized that the applicant would be entitled to protection if her assets were to erode due to the platform’s restructuring efforts approved by the Singapore…
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“If, ultimately, based on the modified scheme of arrangement approved by the Singapore High Court on 13.10.
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This judgment marks a turning point for India’s digital asset ecosystem, providing much-needed legal clarity on how cryptocurrencies are to be treated under property law.
The Currency Analytics
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