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India Finally Decides Not to Be Totalitarian Regime and Allows People to Make Their Own Financial Choices, Shocking Nobody

Crypto NewsHackRegulation/Negotiation 1 Doug Martinez August 16, 2024

An illustration of a judge's gavel striking down an image of a red "X" over a cryptic Ponzi scheme pyramid with people falling off its sides and landing safely in their own wallets amidst rising cryptocurrency symbols, all set against a backdrop of Indian law books. A green checkmark rises from the base of the pyramid into the air as it crumbles. The scene is filled with ascending arrows indicating growth and stability. In the foreground, an image of India's national emblem appears on top of a stack of coins representing legal clarity amidst rising cryptocurrency symbols.

So another High Court in India has decided to join the ranks of those who think cryptocurrency isn’t a scam for idiots and criminals (or at least not illegal). This ruling is based on some sort of technical argument about what constitutes money, but let’s be real – it doesn’t change anything. The fact remains that most people have no idea how this stuff works or why they’re investing in it. They just want to get rich quick like all the other gullible fools out there

Source: bitcoin.com

Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
https://news.bitcoin.com/landmark-ruling-crypto-dealings-not-illegal-in-india-says-high-court
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under the Odisha Protection of Interests of Depositors Act, thus deeming mere cryptocurrency dealings not offenses […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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