“It can only be said that the accused tried to convince the public to trade cryptocurrencies, yes, World Token. There is nothing on record to show that they had dishonestly induced any person to give them any property. In other words, there is no evidence that any person transferred money to the defendant. The methodology adopted is person to platform, the accused cannot be said to have misled any person, especially keeping in mind the fact that any amount invested by any person remains safe in his fiat wallet,” Justice Mishra observed.
The judge further said: “Therefore, the offense under Article 420 does not appear, prima facie, to be defined. There is no evidence that any document, record, etc. has been falsified, manipulated, manufactured, etc. to attract the offenses under section 467/468/471 of the IPC.”
A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function as both a currency and a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.
