The House Ways and Means Committee has investigated several organ procurement organizations over what the lawmakers say is behavior considered unacceptable. The US House Ways and Means Committee said Wednesday that it is investigating the organ procurement organization for the New Jersey region for what it called “extreme abuse of public trust” and possible illegal activity, including trying to procure organs from people who didn’t volunteer to be donors and, in at least one case, trying to continue with the organ recovery process in a patient who had “reanimated.” The allegations were discussed in a letter the committee sent to the New Jersey Organ and Tissue Sharing Network, one of 55 organ procurement organizations that are federally designated nonprofits tasked with the multibillion-dollar business of managing the recovery of organs for transplantation in the United States. The committee, which has investigated several organ procurement organizations over what the lawmakers say is behavior considered unacceptable, says it has been asking the New Jersey network for records and information at least since July. Investigators spoke with nearly a dozen whistleblowers, the letter says. One of the incidents it highlights involves an unnamed patient at the Virtua Our Lady of Lourdes Hospital in Camden, New Jersey. The patient was pronounced dead and the network started the process to recover their organs, the letter says, but soon after the recovery process began, the person “reanimated.” The procurement team called the network’s chief executive officer to find out what to do. Witnesses told the committee that the CEO instructed the NJTO staff on site to “proceed with recovery,” according to the letter. “However, hospital staff intervened, and recovery did not move forward.” Neither the hospital nor the procurement organization responded to CNN’s requests for comment. The committee described the case as “shocking” and “alarming” and said several whistleblowers told investigators that documents with regard to details about the case were deleted or manipulated. The committee’s letter also alleges that the New Jersey Sharing Network misused documents to tell patients’ families it had authority to remove organs, even if the patient was not currently listed as an organ donor on their driver’s license or, in some cases, had withdrawn their permission to donate; may have procured and thrown out hundreds of organs just to meet federal metrics; and gave organs to people out of sequence on the transplant list. “This is unacceptable,” the letter says. “The organs procured by every [organ procurement organization] across the country belong to the individuals on the waitlist who are ranked and matched using medical criteria. They do not belong to the OPOs, and it is not NJTO’s role to pick winners and losers on the transplant waiting list.” The letter also says the organization has made misleading statements to Congress throughout the investigation. “These allegations raise questions about whether NJTO should keep its tax-exempt status and highlights the need for potential legislative reforms,” the letter says. The House Ways and Means Committee has asked the New Jersey organization to send additional documents including any complaints it has received, documents from the head of the organization and staff communications, as well as any more unredacted documents related to the patient in the Camden case. The letter is the latest development in the committee’s focus on the nation’s organ procurement groups. In July, the committee sent a letter to the Indiana Donor Network with regard to its use of private jets for non-mission charter flights. It also demanded documents from the Miami-area Life Alliance Organ Recovery Agency, and after its investigation, the US Department of Health and Human Services moved to decertify the organization – essentially shutting the operation down – in September. The investigation found unsafe practices, staff shortages and paperwork errors, according to HHS. Agency Secretary Robert F. Kennedy Jr. said at the time that the move was meant as a “clear warning” to other donor organizations. In September, the committee sent a letter to the Network for Hope, a Kentucky-based organ procurement organization, that demanded documents related to practices it considered unsafe. In one case four years ago in Richmond, Kentucky, a man says he woke up on the operating table while a recovery team was shaving his chest to take his organs. Witnesses say the hospital staffers were pressured by people within the organization to continue with the procedure, but a local surgeon refused to continue the operation when she saw that the man wasn’t dead. The Kentucky Attorney General’s Office has also been investigating the case. Stay informed and connected — subscribe to The Philadelphia Tribune NOW! Click Here Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don’t Threaten. Threats of harming another person will not be tolerated. Be Truthful. Don’t knowingly lie about anyone or anything. Be Nice. No racism, sexism or any sort of -ism that is degrading to another person. Be Proactive. Use the ‘Report’ link on each comment to let us know of abusive posts. Share with Us. We’d love to hear eyewitness accounts, the history behind an article.
https://www.phillytrib.com/news/health/new-jersey-organ-procurement-organization-under-congressional-investigation-after-alarming-whistleblower-claims/article_857704a9-2558-4c5d-a282-52e1569f3360.html
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Trump, Polling, and the Fourth Wall – Liberty Nation News
A conundrum sits in the middle of President Donald Trump’s polling numbers. On the one hand, verifiable data show that both the economy and international trade with the United States are up, and that illegal border crossings and crime are down. On the other hand, the president’s approval ratings in each of the sectors are plummeting. Certainly, part of the paradox could come from media spin or poor messaging, but perhaps the real issue is that Trump has done something no other politician has done before: broken the fourth wall. Expectations and Experience To quote the renowned punk band The Jam, “the public gets what the public wants.” Over the years, electorates in almost all Western nations have created a relatively consistent model of what a politician is and can do. So when an unconventional candidate comes along, he or she may be described as shattering a “glass ceiling” – moving beyond the staid, steady, and unexpected. The glass ceiling was impervious to two major political stars in recent history. Hillary Clinton was immensely “qualified” to be president and yet was, to many, an entirely unlikable figure, and denigrating a significant chunk of the voting public as “deplorables” did her no favors. Similarly, former Vice President Kamala Harris was mostly held back from office because of her inability to communicate effectively and her cowardice in dealing with any media not in her camp. Their gender, perhaps common sensically, did not blind the electorate to their weaknesses. When Trump won the presidency in 2016, he was a wrecking ball to the known world of politics. When he won again in 2024, he became precision detonation. Why then do his approval ratings not match the enthusiasm level with which he was elected? Pulling Back the Curtain on Trump Steady, deliberative, and cool-headed are qualities that have been lauded in any politician’s campaign ads. Successful presidents are known for presenting clear and well-laid plans to satisfy the voters who look to them for steadfast and unwavering leadership. Trump, in this aspect as well as others, is notably different. What the public sees from the commander-in-chief is often the thought process involved. Instead of engaging in closed-door confabs or, God forbid, policy focus groups, the president tells the public directly where he is in his thinking – at the current time. In the theater world, breaking character and speaking directly to the audience is a bold move that fails more often than it succeeds; they don’t call it “breaking” the fourth wall without reason. And yet when done well, it creates something quite special. Consider Ferris Bueller’s interactions with the audience, or William Goldman’s immensely popular novel The Princess Bride, which acts as a book within a book. When Trump says he is considering military action against Venezuela’s government, this shouldn’t be understood as he has met with his generals and determined how best to strike – but rather that an incursion is one of a number of possibilities. Is such public revelation a prudent practice? Well, that depends on who has tickets to the opening night. Warnings and Wish Lists The American public hears Trump’s ideas come and go, as he provides unprecedented access to his thought processes. Certainly, such unfiltered openness and transparency is quite a difference from the previous administration, marked by an elusive president and befuddled communications from his team. Instead of operating in the traditional DC manner – through leaks and veiled ministerial policy hints – Trump has taken it upon himself to keep everyone guessing while inviting the American people along for the ride. But also looking on are the likes of Venezuelan President Nicholas Maduro, Chinese President Xi Jinping, and other leaders both outside and inside the United States who seemingly never quite know how to deal with Trump. This president has made an art form of strategic ambiguity. Now that the political Fourth Wall has been broken, however, will such insights become the new expectation of a public so used to secrecy and top-down exposure?
https://www.libertynation.com/trump-polling-and-the-fourth-wall/
House votes overwhelmingly to force release of Epstein files, sending bill to Senate
WASHINGTON — The House voted overwhelmingly in favor of a bill Tuesday to force the Justice Department to publicly release its files on the convicted sex offender Jeffrey Epstein, a remarkable display of approval for an effort that had struggled for months to overcome opposition from President Donald Trump and Republican leadership. When a small, bipartisan group of House lawmakers introduced a petition in July to maneuver around House Speaker Mike Johnson’s control of which bills reach the House floor, it appeared a longshot effort — especially as Trump urged his supporters to dismiss the matter as a “hoax.” But both Trump and Johnson failed in their efforts to prevent the vote. Now the president has bowed to the growing momentum behind the bill and even said he will sign it if it also passes the Senate. Moments after the House vote, Senate Majority Leader John Thune said his chamber will act swiftly on the bill. The bill passed the House 427-1, with the only no vote coming from Rep. Clay Higgins, a Louisiana Republican who is a fervent supporter of Trump. He said in a statement that he opposed the bill because it could release information on innocent people mentioned in the federal investigation. The decisive, bipartisan work in Congress Tuesday further showed the pressure mounting on lawmakers and the Trump administration to meet long-held demands that the Justice Department release its case files on Epstein, a well-connected financier who killed himself in a Manhattan jail while awaiting trial in 2019 on charges he sexually abused and trafficked underage girls. “These women have fought the most horrific fight that no woman should have to fight. And they did it by banding together and never giving up,” said Rep. Marjorie Taylor Greene as she stood with some of the abuse survivors outside the Capitol Tuesday morning. “That’s what we did by fighting so hard against the most powerful people in the world, even the president of the United States, in order to make this vote happen today,” added Greene, a Georgia Republican and longtime Trump loyalist. The bill’s passage would be a pivotal moment in a yearslong push by the survivors for accountability for Epstein’s abuse and reckoning over how law enforcement officials failed to act under multiple presidential administrations. A separate investigation conducted by the House Oversight Committee has released thousands of pages of emails and other documents from Epstein’s estate, showing his connections to global leaders, Wall Street powerbrokers, influential political figures and Trump himself. In the United Kingdom, King Charles III stripped his disgraced brother Prince Andrew of his remaining titles and evicted him from his royal residence after pressure to act over his relationship with Epstein. The bill forces the release within 30 days of all files and communications related to Epstein, as well as any information about the investigation into his death in federal prison. It would allow the Justice Department to redact information about Epstein’s victims or continuing federal investigations, but not information due to “embarrassment, reputational harm, or political sensitivity.” Trump’s reversal on the Epstein files Trump has said he cut ties with Epstein years ago, but tried for months to move past the demands for disclosure. Still, many in the Republican base have continued to demand the release of the files. Adding to that pressure, survivors of Epstein’s abuse rallied outside the Capitol Tuesday morning. Bundled in jackets against the November chill and holding photos of themselves as teenagers, they recounted their stories of abuse. “We are exhausted from surviving the trauma and then surviving the politics that swirl around it,” said one of the survivors. Another, Jena-Lisa Jones, said she had voted for Trump and had a message for the president: “I beg you Donald Trump, please stop making this political.” The group of women also met with Johnson and rallied outside the Capitol in September, but have had to wait months for the vote. That’s because Johnson kept the House closed for legislative business for nearly two months and refused to swear-in Democratic Rep. Adelita Grijalva of Arizona during the government shutdown. After winning a special election on Sept. 23, Grijalva had pledged to provide the crucial 218th vote to the petition for the Epstein files bill. But only after she was sworn into office last week could she sign her name to the discharge petition to give it majority support in the 435-member House. It quickly became obvious the bill would pass, and both Johnson and Trump began to fold. Trump on Sunday said Republicans should vote for the bill. Yet Greene told reporters that Trump’s decision to fight the bill had betrayed his Make America Great Again political movement. “Watching this turn into a fight has ripped MAGA apart,” she said. How Johnson is handling the bill Rather than waiting until next week for the discharge position to officially take effect, Johnson held the vote under a procedure that requires a two-thirds majority. But Johnson also spent a morning news conference listing off problems that he sees with the legislation. He argued that the bill could have unintended consequences by disclosing parts of federal investigations that are usually kept private, including information on victims. “This is a raw and obvious political exercise,” Johnson said. Still, he voted for the bill. “None of us want to go on record and in any way be accused of not being for maximum transparency,” he explained. Meanwhile, House Democrats celebrated the vote as a rare win. House Democratic leader Hakeem Jeffries described it as “a complete and total surrender.” Senate plans to act quickly Even as the bill cleared his chamber, Johnson pressed for the Senate to amend the bill to protect the information of “victims and whistleblowers.” But Senate Majority Leader John Thune showed little interest in that notion, saying he doubted that “amending it is going to be in the cards.” Thune said he would quickly assess senators’ views on the bill to see if there were any objections. He said the bill could be brought forward in the Senate as soon as Tuesday evening and almost certainly by the end of the week. Senate Democratic leader Chuck Schumer also indicated he would attempt to pass the bill Tuesday. “The American people have waited long enough,” he said. Meanwhile, the bipartisan pair who sponsored the bill, Reps. Thomas Massie, R-Ky., and Ro Khanna, D-Calif., warned senators against doing anything that would “muck it up,” saying they would face the same public uproar that forced both Trump and Johnson to back down. “We’ve needlessly dragged this out for four months,” Massie said, adding that those raising problems with the bill “are afraid that people will be embarrassed. Well, that’s the whole point here.”
https://www.phillytrib.com/news/house-votes-overwhelmingly-to-force-release-of-epstein-files/article_470345c5-423f-4507-af2b-6da69f34926d.html
ASIC Confirms Stablecoins and Tokenised Assets Fall Under Financial Law
**Regulator Grants No-Action Period for Crypto Firms Until June 2026**
The Australian Securities and Investments Commission (ASIC) has introduced a sector-wide no-action position for crypto firms, effective until June 30, 2026. During this period, ASIC will not take enforcement action against unlicensed providers who are making genuine efforts to comply with existing financial regulations. This temporary relief offers stability to the sector as firms adjust ahead of future legislative reforms.
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### Temporary Relief for Stablecoin and Wrapped Token Distributors
ASIC also plans to provide temporary relief for distributors of stablecoins, wrapped tokens, and custodians of digital assets that qualify as financial products. The regulator is currently seeking public feedback on these draft relief measures until November 12, 2025.
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### Clarifying How Financial Laws Apply to Digital Assets
This update from ASIC clarifies how current financial laws apply to various digital assets, aiming to give investors stronger protections and provide firms with clearer regulatory guidelines.
ASIC’s new guidance confirms that stablecoins, wrapped tokens, tokenised securities, and digital asset wallets are considered financial products under existing laws. Consequently, many providers offering these products will need to hold a financial services licence to operate legally.
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### ASIC Commissioner Comments
ASIC Commissioner Alan Kirkland highlighted the significance of distributed ledger technology and tokenisation in transforming global finance. He emphasized that ASIC’s guidance provides much-needed clarity, allowing firms to operate confidently within the law. Kirkland also noted that licensing ensures consumers have legal protections and enables ASIC to take action against misconduct that harms the market or consumers.
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### Public Consultation and Past Behaviour Considerations
In addition to the no-action position, ASIC released a summary of industry feedback from Consultation Paper 381, which focused on digital asset financial products and services. The feedback has helped shape the current guidance, including the proposed relief measures.
While the no-action position provides some leniency, ASIC affirmed that it will continue to take action against serious misconduct or practices causing significant consumer harm. The regulator will also consider the no-action position when evaluating past behaviour from firms in this space.
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### About ASIC
The Australian Securities and Investments Commission (ASIC) is Australia’s primary regulator for corporate, markets, financial services, and consumer credit. Established under the Australian Securities and Investments Commission Act of 2001, ASIC is empowered to facilitate, regulate, and enforce Australian financial laws. It was initially formed as the Australian Securities Commission based on the 1989 ASC Act.
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### About the Author
**Tareq Sikder**
A Forex technical analyst and financial writer with 12 years of experience, Tareq Sikder has authored over 1,800 articles covering the latest developments in finance and cryptocurrency.
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https://www.financemagnates.com/cryptocurrency/asic-confirms-stablecoins-and-tokenised-assets-fall-under-financial-law/
Judge extends order barring Trump administration from firing federal workers amid shutdown
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Indian Court XRP Ruling May Complicate WazirX Hack Claims Process
**Madras High Court Mandates Bank Guarantee for WazirX User’s XRP Holdings Post-Hack**
The Madras High Court has delivered a landmark ruling affirming cryptocurrencies as possessable property under Indian law, a decision that could significantly impact how digital assets are treated following exchange hacks. This development comes in the wake of a major 2024 cyberattack on WazirX that resulted in a staggering $235 million loss, leaving the platform with insufficient tokens to meet all user liabilities.
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### Significance of the Madras High Court Ruling on WazirX Cryptocurrency Claims
On Saturday, Justice N. Anand Venkatesh ordered WazirX’s operator, Zanmai Labs, to issue a bank guarantee worth approximately $11,800 to secure a specific user’s claim over 3,532 XRP tokens frozen after the hack. This ruling officially recognizes digital assets like XRP as property capable of being owned, possessed, and held in trust.
This important affirmation sets a precedent for handling user claims post-hack, particularly in cases involving frozen assets. It highlights the legal recognition of crypto holdings as trustable property and could influence how exchanges like WazirX manage liabilities, especially amid international restructuring efforts.
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### Impact on WazirX Users Affected by the 2024 Hack
The 2024 cyberattack on WazirX compromised approximately $235 million worth of various cryptocurrencies. As a consequence, the exchange no longer holds enough tokens to cover all pending user claims. Since the incident, many affected users have faced prolonged uncertainty due to frozen assets intended to prevent further loss.
Justice Venkatesh’s order specifically targets a claimant whose XRP remains in Zanmai Labs’ custody, emphasizing the legal standing of such tokens. This introduces new legal considerations for WazirX, which operates under its Singaporean parent company Zettai Labs but has headquarters in India.
The ruling could complicate enforcement efforts within India and potentially conflict with Zettai’s court-approved restructuring plan under Singapore law dated October 13, 2024. According to legal experts cited by Bloomberg and Reuters, jurisdictional overlaps often delay dispute resolution in cross-border crypto cases.
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### Broader Legal and Operational Implications
– **Local Enforcement:** Indian WazirX users may need to pursue local arbitration or court claims to access remedies, rather than relying solely on the Singaporean restructuring scheme.
– **Bank Guarantee as Interim Security:** The bank guarantee ordered by the court acts as a financial safeguard, ensuring the claimant’s rights are protected during ongoing proceedings.
– **WazirX’s Response:** Following the ruling, WazirX has reiterated its commitment to fair distribution and has resumed trading after a year-long halt. The court documents note that the hack severely depleted liquid tokens, prompting Zettai Labs to develop a structured repayment plan under Singapore Companies Act supervision.
– **Regulatory Impact:** With over 100 million crypto users in India as reported by the Reserve Bank of India and industry analyses like PwC, this ruling underscores the need for regulatory clarity. It enforces the view that exchanges must treat user assets as fiduciary obligations, aligned with global standards such as those from the Financial Action Task Force (FATF).
Fintech lawyer Aarav Gupta observes that WazirX’s recent zero-fee trading initiative aims to rebuild user trust, although full recovery remains uncertain. The case exemplifies evolving legal landscapes in India as courts adapt existing laws to accommodate blockchain assets.
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### Frequently Asked Questions
**What does the Madras High Court ruling mean for claiming frozen XRP on WazirX after the hack?**
The ruling allows Indian users to pursue arbitration for frozen XRP holdings, legally recognizing them as trust-held property. Zanmai Labs must provide a bank guarantee of roughly $11,800 for 3,532 XRP tokens, securing claims during legal proceedings. This facilitates quicker resolution for affected users within India.
**How will WazirX’s Singapore restructuring plan interact with Indian court decisions on crypto hacks?**
While WazirX’s parent company, Zettai Labs, received approval for its restructuring plan in Singapore, Indian court orders such as this may require local compliance measures like bank guarantees. As a result, the interaction of jurisdictional frameworks could lead to hybrid solutions overseen by both Indian and Singaporean courts.
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### Key Takeaways
– **Cryptocurrency as Legal Property:** The Madras High Court has formally recognized digital assets like XRP as possessable and held in trust, bolstering user rights in hack cases.
– **Bank Guarantee Requirement:** Zanmai Labs must secure claims with financial guarantees to prevent further delays in recovery.
– **Impact on Restructuring Efforts:** Indian court decisions may extend the timeline or alter the enforcement of WazirX’s Singapore-approved repayment scheme. Users should stay informed and file claims promptly.
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### Conclusion
The Madras High Court’s ruling on WazirX marks a pivotal advancement in the recognition of cryptocurrency under Indian law. By affirming digital assets as trustable property and mandating bank guarantees to secure user claims, the court has set a precedent that could influence how crypto exchanges and users navigate the complex aftermath of hacks.
As WazirX works through its international restructuring, affected users—particularly those in India—may experience changes in how claims are addressed, with greater emphasis on legal protections and fiduciary responsibilities. This case highlights the growing need for clear regulatory frameworks in the expanding Indian crypto market and signals a maturing judicial approach to blockchain-related disputes.
Stay tuned for more updates on cryptocurrency regulations and WazirX’s ongoing developments.
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ICE detiene a familias enteras para interrogarlas dentro de 26 Federal Plaza en un cambio de estrategia
Tras la indignación generada por la redada del ICE en Canal Street el martes de la semana pasada, agentes encapuchados aparentemente adoptaron una nueva estrategia en el 26 Federal Plaza: arrestar a varias familias a la vez para interrogarlas.
En los días posteriores a la mencionada redada en Chinatown, la sensación de temor y desesperación dentro de la corte de Manhattan solo se hizo más palpable. De acuerdo con fuentes cercanas a los procedimientos de ICE dentro del número 26 Federal Plaza, las tácticas de los agentes han cambiado radicalmente.
Asimismo, la semana pasada, un hombre ruso, junto a su esposa, su hijo pequeño y su bebé, fue arrestado tan rápido como salió de la sala del tribunal en el piso 12, solo para ser liberado más tarde. “¿Pensaron que íbamos a hacer eso? No lo haríamos”, comentó un agente de ICE, refiriéndose a la detención de la familia. No obstante, fueron detenidos de nuevo a pocos pasos por otro agente, quien dijo: “Necesitamos hacerles algunas preguntas”. Sin tocarlos, la familia del hombre fue llevada a un ascensor. Actualmente, no se sabe de su paradero.
Un incidente parecido ocurrió pocos minutos después. Esta vez, un padre llevaba a su hija pequeña en brazos y su esposa fueron escoltados a un ascensor. Cuando los fotoperiodistas empezaron a tomar fotos, un agente comenzó a agitar la mano frente a las cámaras para impedir que las imágenes quedaran claras.
Ese mismo día, un grupo de agentes federales se acercó a una mujer que estaba esperando el ascensor y verificaron su documentación. Al decidir que no era la persona que buscaban, la dejaron sola, sin hacerle daño, pero el miedo a que pasara lo peor la hizo romper en llanto.
En otros momentos, se podía observar a algunos de los agentes con el rostro cubierto, deslizándose en los ascensores mientras los inmigrantes entraban, desapareciendo cuando las puertas se cerraban.
Este cambio de táctica se produce luego de meses de detenciones físicamente intensas que han visto a algunas personas que acuden al tribunal siendo derribados al piso y a otros llevados por los pasillos hasta perderlos de vista, informó AM NY.
Un observador de la corte, que se identificó como Peter y trabaja para tratar de rastrear a los detenidos por el ICE, indicó que esta nueva práctica de llevarse a las familias completas es extremadamente preocupante.
“Detener a familias enteras, incluso temporalmente, representa una grave escalada de tácticas. Con las separaciones familiares en el tribunal, aunque trágicas, el beneficio es que se puede brindar ayuda y asesoramiento adecuados a la familia restante de inmediato”, explicó Peter.
“Cuando una familia simplemente desaparece en el éter de la plaza federal, se queda sin ninguno de los recursos que son cruciales para apoyar a una familia después de la detención. Quizás ese sea el objetivo de esta nueva práctica”.
Asimismo, en una visita sorpresa el 23 de octubre, el representante demócrata Dan Goldman se enfrentó a varios sujetos encapuchados, exigiendo ver sus placas y preguntándoles para qué organización trabajan.
En este caso particular, una docena de oficiales estaban apostados afuera de una sala de tribunal, esperando a que el juez liberara a sus demandados. Poco después del mediodía, un gran grupo de personas, principalmente familias, salió de la corte al pasillo.
Un padre joven que acunaba a su hijo fue arrestado inmediatamente, lo que causó que su esposa se abriera paso entre la muchedumbre y gritara pidiendo piedad. Los fotógrafos de los medios y el congresista observaban con atención.
Al final, los agentes lo dejaron ir y las familias corrieron en estampida hacia los ascensores. Golpearon el botón de bajada, se empujaron y treparon unos a otros para entrar en el ascensor como si su vida dependiera de ello.
El mencionado observador de la corte dijo que cree que, gracias a la presencia de la prensa y a la visita sorpresa de Goldman, el hombre fue dejado en libertad.
El viernes, los políticos buscaron mantener la presión, esta vez con la aparición sorpresiva del interventor de la ciudad de Nueva York, Brad Lander.
Cryptocurrency is as ‘property’ under Indian law, rules Madras High Court
**Madras High Court Confirms Cryptocurrencies Can Be Owned and Held in Trust**
In a landmark ruling that could reshape the future of cryptocurrency in India, the Madras High Court has declared that cryptocurrencies qualify as property under Indian law. Delivered by Justice N. Anand Venkatesh, the decision affirms that cryptocurrencies can be owned, held in trust, and protected as legal property — a major step in clarifying the legal status of digital assets in the country.
### Cryptocurrency in India Now Recognised as Property
The case originated from a petition by an investor whose 3,532.30 XRP coins were frozen following a cyberattack on WazirX, one of India’s largest cryptocurrency exchanges. In July 2024, WazirX suffered a $234 million hack involving Ethereum and ERC-20 tokens. Although the investor’s XRP holdings were not part of the stolen assets, WazirX sought to redistribute all users’ funds under its so-called “socialisation of losses” plan.
Justice Venkatesh firmly rejected this proposal, ruling that each investor’s digital holdings are individual property and cannot be diluted or redistributed to cover exchange losses. He emphasised that cryptocurrencies, while intangible, possess all the essential attributes of property: they are identifiable, transferable, and exclusively controlled through private keys.
> “It is not a tangible property nor is it a currency,” the judge observed. “However, it is a property, which is capable of being enjoyed and possessed in a beneficial form.”
This interpretation grants digital asset holders stronger legal standing, ensuring that their cryptocurrencies are recognised as assets protected under Indian law.
### Jurisdiction and Investor Protection
The Court also settled important questions regarding jurisdiction, dismissing WazirX’s argument that Singaporean arbitration rules applied due to its parent company, Zettai Pte Ltd, being based in Singapore.
Justice Venkatesh cited the Supreme Court’s earlier decision in *PASL Wind Solutions Pvt Ltd v. GE Power Conversion India Pvt Ltd* (2021), noting that Indian courts have authority over assets located within India. Because the investor’s transactions originated from Chennai and involved an Indian bank account, the Court confirmed the case fell squarely under Indian jurisdiction.
The Court further highlighted that Zanmai Labs Pvt Ltd, which operates WazirX in India, is registered with the Financial Intelligence Unit (FIU), unlike its foreign parent company or Binance. This distinction reinforces that Indian exchanges operating domestically are subject to Indian oversight and accountability—particularly in protecting user assets and maintaining transparent custodial practices.
### Strengthening Web3 Governance
Justice Venkatesh’s ruling went beyond individual relief, calling for higher standards of corporate governance within the Web3 and cryptocurrency sectors. He urged exchanges to:
– Maintain separate client funds
– Conduct independent audits
– Uphold robust KYC and anti-money laundering controls
The Court noted these measures are vital for building trust in the digital economy and protecting consumers from future mishandling of assets.
Legal experts have hailed the judgment as a milestone in developing “crypto-jurisprudence” in India. Vikram Subburaj, CEO of Indian exchange Giottus, described it as a foundational moment that signals to all market participants — exchanges, users, and regulators — that the digital asset space will be held to strong standards of governance and protection.
### A Foundation for India’s Crypto Future
The Court’s ruling not only protects the rights of individual investors but also strengthens the broader regulatory framework surrounding digital assets. By recognising cryptocurrency as property, the judgment fills a crucial legal gap in a country where tax enforcement on crypto remains strict, but investor protections have lagged.
As Justice Venkatesh wrote, courts now serve as the “central stage where the future of digital value is debated.” Through this ruling, the Madras High Court has provided India with a clearer understanding of ownership, responsibility, and trust in the age of decentralisation.
With cryptocurrency in India now firmly recognised as property under Indian law, this decision marks a turning point for the country’s digital asset ecosystem—affirming that crypto holdings are not merely speculative instruments but protected assets under the law.
https://coinjournal.net/news/cryptocurrency-is-as-property-under-indian-law-rules-madras-high-court/
Capitals assistant coach fired after domestic abuse investigation
The Washington Capitals have started their defense of the Metropolitan Division title with a 6-3-0 record in the 2025-26 NHL season. However, an NHL investigation concluded on Sunday has resulted in significant changes to Spencer Carbery’s coaching staff.
The Capitals have fired assistant coach Mitch Love following an NHL investigation into domestic abuse accusations. According to Frank Seravalli, “Sources say NHL has suspended [Capitals] assistant coach Mitch Love for the entirety of the 2025-26 season following an investigation into alleged domestic abuse. The victim reported allegations directly to the NHL and teams Love interviewed with over the summer for head coach vacancies.”
In response to the findings, the Capitals released a statement via their official public relations social media account: “Mitch Love has been relieved of his duties as an assistant coach, effective immediately. This decision follows the findings of an NHL-led investigation into past allegations. The organization is committed to maintaining the highest standards of conduct and accountability.”
Mitch Love joined the Capitals coaching staff in the 2023-24 season when Spencer Carbery took over as head coach. Prior to his tenure in Washington, Love spent time as head coach of the Stockton Heat and Calgary Wranglers, both American Hockey League (AHL) teams.
Seravalli also noted that Love had been considered for NHL head coaching positions last summer, but these allegations affected his opportunities. The Capitals placed Love on leave on September 14, when the investigation began. While specific details of the allegations have not been disclosed, both the NHL and the team deemed the findings serious enough to warrant his suspension and termination.
Love will be eligible to seek new employment in the NHL after the 2025-26 season. However, this investigation has already impacted his career prospects and will likely continue to affect any future job opportunities.
The Washington Capitals are set to return to action on Tuesday with a road game against the Dallas Stars.
https://clutchpoints.com/nhl/washington-capitals/capitals-news-assistant-coach-fired-domestic-abuse-investigation
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**Editor’s Note:** Earlier this week, Journal Star reporter Peter Breen wrote about how former Lincoln Police Department officer and FBI detective Jeff Howard’s career took a turn while investigating a 1997 rape.
https://journalstar.com/news/local/article_125de286-1300-4b69-9819-529fd23b3777.html