Cryptocurrency Frauds In Tamil Nadu: Police Issues Warning To Investors
In a bid to curtail cryptocurrency-based transactions in Tamil Nadu, the stateâ€™s Economic Offences Wing (EOW) has now issued a warning to individuals dealing with cryptocurrencies.
According to a report in The Hindu, the department has taken this decision in the backdrop of cryptocurrency fraudulent cases reported in Tamil Nadu.
A few cryptocurrency investors were cheated in these cases, however, accused are now arrested, it added.
The EOW further highlighted that cryptocurrencies are not a currency as per the definition of currency in India.
Moreover, the Indian government has not yet given the status of legal tender to any cryptocurrency.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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