The Orissa High Court in India has issued a significant ruling that cryptocurrency dealings are not illegal under Indian law. The landmark decision emerged from a case involving 2 individuals who were accused of defrauding people through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not money within the meaning of the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under the Odisha Protection of Interests of Depositors Act, and therefore considering that mere cryptocurrency dealings are not offenses under these laws.

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