Madras High Court Recognises Cryptocurrency As Asset - How You See This?

[TSen]

You might have heard about this historic event because my favourite channel and magazine covered this.

The whole story was simple:
Someone went to court regarding the Wazirx holding their 3k XRP since the hack, and the court said it recognizes crypto as a property that can be owned.

For anyone who wants to read the full article:
https://www.ndtv.com/india-news/madras-high-court-recognises-cryptocurrency-as-property-under-indian-law-9519596

How do you see this verdict guys? I mean at least it confirms the legality of crypto in India which has always been a grey area, despite being taxed lol.

[Bitcoin Smith]

Indian government itself recognized bitcoin and cryptocurrencies as asset based on the income tax act and the bill introduced in 2022 itself. So this new ruling is not a surprise and confirming what government said about crypto as VDA - Virtual Digital Asset. And status of crypto became legal from that point but people calling it as grey area due to the ignorance and bank freeze has nothing to do with the legal status here.