Indian Penal Code and other laws have provision to protect investors against cryptocurrency fraud, according to Indian Finance Ministry official

Indian Minister Pankaj Chaudhary told the Parliament that when it comes to crypto scams and frauds, India’s existing laws like the Indian Penal Code are equipped to handle the fallout.

The Indian government is yet to form a policy addressing the use of cryptocurrencies in the country.

In the meantime, the popularity of digital coins has been increasing, along with scams and frauds promising investors ‘get rich quick’ schemes.