![[Cyclone Dana] Orissa High Court To Remain Closed For Two Days](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/06/image-13-1.png?resize=447%2C367&ssl=1)
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law, stemming from a case involving a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not defined as “money” or “deposit” under specific acts, thus separating its legality from fraudulent activities. The accused’s investment strategy did not support claims of cheating, leading to the court’s conclusion.
