The National Consumer Disputes Redressal Commission (NCDRC) has dismissed two high-profile complaints brought against the company by Gurmeet Singh & Ors. and Manveen Kaur & Ors., reinforcing legal clarity on the classification of cryptocurrency-related services under Indian consumer protection law.
The complainants had sought to invoke the Consumer Protection Act, 2019, by claiming that they were “consumers” of services provided by Zanmai, which operates a popular cryptocurrency platform. However, the NCDRC, in a detailed ex-parte ruling dated March 13, 2025, categorically dismissed the claims, stating that the transactions in question did not fall within the statutory definition of “services” as outlined in the Act.
In its well-reasoned judgment, the Commission emphasized two critical points that not only exonerate Zanmai of any alleged wrongdoing but also set the record straight for the broader cryptocurrency ecosystem in India.
1. User Agreement and Dispute Resolution Clause Honoured
The Commission took note of the explicit user agreements entered into by the complainants when signing up for the platform. These agreements included a detailed dispute resolution clause, designating the Singapore International Arbitration Centre (SIAC) as the appropriate forum for addressing disputes. The NCDRC upheld the sanctity of this agreement, noting that the parties were bound by their contractual commitments.
2. Clarification on Consumer Law Applicability to Crypto
Equally important, the NCDRC clarified that cryptocurrency services, such as those provided by Zanmai, do not currently qualify as “services” under the Consumer Protection Act, 2019. The Commission pointed out that the legal and regulatory status of cryptocurrency in India remains undefined by either legislature or binding judicial precedent. As such, applying consumer law frameworks to such services would be premature and legally unfounded.
A Positive Precedent for the Indian Crypto Industry
The verdict provides much-needed legal clarity in a landscape often clouded by regulatory ambiguity and misreporting. While some initial reports suggested wrongdoing on the part of Zanmai or implied non-compliance, the NCDRC’s order establishes that the platform not only acted within the framework of existing law but also maintained transparent and binding contractual terms with its users.
Legal experts view this decision as a constructive step toward establishing clearer norms for digital asset platforms in India. “This verdict affirms the importance of respecting user agreements and reinforces that consumer law cannot be stretched to cover services not yet recognized by the law,” said a Delhi-based legal analyst specializing in fintech litigation.
Looking Ahead
While the broader legal status of cryptocurrency remains under discussion at the policy level, the NCDRC’s ruling provides a framework for distinguishing legitimate platforms from speculative legal attacks. For Zanmai, the decision underscores its adherence to due process, customer transparency, and contractual integrity — values that are increasingly vital in the evolving digital economy.
