General Studies · Analytical Reasoning

Given the statement below, identify which of the challenges are valid concerns. Statement: A High Court formally recognized cryptocurrency as a form of 'property' under Indian law, enabling courts to intervene in digital asset disputes. The bench clarified that although cryptocurrency is not a tangible asset or legal tender, it qualifies as property that can be possessed and held in trust, aligning with the Income Tax Act's definition of 'virtual digital assets'. Challenges: I. Potential for market instability due to judicial overreach. II. Regulatory and legal uncertainty regarding future court interpretations and regulatory conflicts.