Crypto Dealings are not Illegal in India says High Court

Crypto is a growing segment and India is one of the markets where crypto is going through a different phase. There is a lot of controversy on Crypto dealings in India where different authorities have different parts about cryptocurrencies. There have been some incidents when the court has come forward and clarified some of the information but it still looks like the code intervention is required to have a clear understanding.

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These days many scammers are around and they report p2p transactions to the cyber crime dept for account freeze. Many such cases also go through the court process where crypto is called an illegal instrument. Now after the intervention of the high court in India hope this will get more clarity.

The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme.

Even now the crypto exchanges in India are struggling to get proper banking support and if crypto is not illegal then this should be provided. Once this problem is solved then such exchanges would be able to provide instant deposits and withdrawals of fiat to users.

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