Madras High Court has ruled that cryptocurrencies can be treated as property, a decision that could reshape how exchanges handle user assets after hacks.

The court found that certain crypto holdings are identifiable and controllable, and therefore eligible for legal protection similar to other movable property .

Cryptocurrency Treated As Property Under Law

According to the Madras High Court, crypto-assets meet the basic tests of property because they can be owned, transferred and controlled by private keys.

Justice N. Anand Venkatesh said they can be held “in trust,” and that they are neither physical goods nor traditional currency but are property nonetheless.

Based on reports , the decision relied in part on the Income Tax Act’s definition of “virtual digital asset” under Sectio

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