Orissa High Court Seeks Clarity on Legal Status of Cryptocurrency, Summons Balangir SP

The Orissa High Court has sought a clear legal position on the status of cryptocurrency in India while hearing multiple petitions connected to the freezing of bank accounts over alleged crypto-related transactions.

The Court noted the absence of definitive regulatory guidance on digital currencies and their treatment under Indian law.

As part of the proceedings, it summoned the Superintendent of Police from Balangir district for clarification on enforcement actions taken in the matter. 

The interim directions highlight the judiciary’s concern over legal uncertainty around cryptocurrency dealings pending a cohesive legislative or policy framework.