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Will FIU grant licenses to at least three offshore cryptocurrency exchanges by September 30, 2024?
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Orissa 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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