India, July 15 -- In a scathing indictment of cryptocurrencies, the Delhi High Court (HC) observed that dealing in such virtual digital assets can lead to the "dissolution" of recognised money into "dark, unknown and untraceable money".
As per news agency PTI, the HC made the remarks while denying bail to businessman Umesh Verma in connection with a cryptocurrency-related fraud case.
"Dealing in cryptocurrency has profound implications on (the) economy of our country by way of dissolution of recognised money into the dark unknown and untraceable money. The allegations against the accused in this multi-victim scam are quite serious, more so in the light of his antecedents of involvement in as many as 13 more cases of similar nature," the...
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