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VisitOrissa High Court Rules #Crypto Dealings Legal Under OPID Act
Jun 14, 2024, 11:25 AM
The Orissa High Court in India has declared that #crypto dealings are not illegal under the current Indian laws. The court ruled that cryptocurrencies do not fall under the definitions of money or deposits in the relevant acts, specifically the OPID Act. This landmark ruling clarifies the legal status of cryptocurrency transactions in India. Following this decision, the Financial Intelligence Unit (FIU) has received new petitions from offshore cryptocurrency exchanges seeking to resume operations in the country.
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Markets
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Official press releases or announcements by the bank
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Official announcements or regulatory filings by the FIU
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Indian government or parliamentary records and announcements
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Reports from cryptocurrency exchanges and financial analysts
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Official announcements or regulatory filings by the FIU and the respective exchanges
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Cryptocurrency trading volume data from major Indian exchanges