Indian High Court’s Landmark Decision: Crypto Transactions Deemed Legal

The Orissa High Court in India has issued a significant ruling clarifying that cryptocurrency dealings are not illegal under Indian law. 

This landmark decision stemmed from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra. Presiding over the single-judge bench, emphasized that cryptocurrency is not considered money under specific acts. Thus categorizing mere cryptocurrency dealings as legal and not offenses. 

The ruling followed a careful examination of whether these activities violated relevant laws, with the judge highlighting the absence of evidence indicating dishonest inducement or forgery, ultimately concluding that the accused did not prima facie commit any offenses.

Clever Robot News Desk 16^th June 2024