The Delhi High Court has raised serious concerns about how cryptocurrency is being used to hide black money in India. The court said crypto dealings can turn clean, legal money into untraceable, dark money – which is dangerous for the country’s economy.
In a recent case, businessman Umesh Verma was denied bail for being involved in a major crypto-related scam. The judge said Verma was already connected to 13 other similar scams, and that made the case even more serious.
🇦🇪 Verma is also linked to a Dubai-based crypto firm called Pluto Exchange. The court has now ordered him to surrender to the investigating officer or the trial court.
This is a reminder to stay alert and avoid shady crypto schemes. If it sounds too good to be true, it probably is.
