India's Orissa High Court: Cryptocurrency trading is not illegal
2024-06-15 03:16:15
The High Court of the Indian state of Orissa has issued an important ruling that clarifies the legal status of cryptocurrency transactions under Indian law. The ruling stems from a case involving individuals accused of fraud through a Ponzi scheme. Judge Sasikanta Mishra clarified that cryptocurrencies are not considered money and cryptocurrencies are not considered deposits, so pure cryptocurrency transactions do not constitute crimes under the relevant laws.
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