A landmark ruling granting XRP property status in India strengthens investor rights and boosts confidence in digital asset ownership.
The case began when Rhutikumari, an XRP (XRP) holder, filed a petition against WazirX after the exchange froze her account containing 3,532.30 XRP worth approximately $9,400. The dispute stemmed from WazirX’s response to a July 2024 hack that led to the theft of about $235 million in assets.
To manage the losses, WazirX proposed a controversial “socialization of losses” plan, which would distribute the financial impact proportionally across all user accounts. Rhutikumari challenged the plan, arguing that it infringed on her ownership rights.
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Source: https://cointelegraph.com/explained/xrp-gets-legal-recognition-as-property-in-india-why-this-court-ruling-matters?utm_source=rss_feed&utm_medium=feed%3F_t%3D1762343317632%26noCache%3Dtrue%26__%3D1762343317632%26_refresh%3Dx2hdlo&utm_campaign=rss_partner_inbound
