Crypto dealings not illegal, says Orissa High Court

A recent Orissa High Court order in a criminal case has ruled that dealings in cryptocurrency are not illegal under Indian law.

The court observed that cryptocurrency is not money within the meaning of the Price Chits and Money Circulation Schemes (Banning) Act 1978. It said the investment made by the general public in cryptocurrency could not partake the nature of the deposit within the meaning of the Odisha Protection of Interests of Depositors Act.