The Madras High Court has ruled that cryptocurrencies constitute "property capable of being possessed and held in trust" under Indian law. The decision stemmed from a case in which Rhutikumari sued WazirX after the exchange froze her account containing 3,532.30 XRP valued at approximately $9,400. The court ordered WazirX to refrain from accessing her holdings and required the exchange to provide a bank guarantee of approximately $11,500 during proceedings.

Shiba Inu declined approximately 4% over the past 24 hours while its burn rate surged 957.9%, with over 11.3 million SHIB tokens removed from circulation, data show. The token reached a yearly low despite T. Rowe Price filing for the first U.S. spot Shiba Inu ETF. Daily trading volume has held around $100 million.