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Orissa High Court on Crypto deals and transactions.

Saksham

Stealth • 6m

Facts of Case : Accused in this case were allegedly operating under the guise of a fictitious cryptocurrency company, enticing people to invest in a digital currency called Yes World Token. They purportedly lured private individuals into investing by creating trust wallets and promising substantial returns. This investment approach required participants to recruit additional members, who would then be promised bonuses or interest payments that increased with the number of new recruits. -> It should be noted that Cryptocurrency is also not considered “Money” which will again lead to other legal and tax issues .

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