Crypto assets brought under depositors’ protection law; firms must deposit 50% liability before appeal
Maharashtra has amended its MPID Act to include cryptocurrencies and other virtual digital assets in its purview, bolstering legal action against financial frauds. The new law aims to expedite recovery for duped investors by capping court adjournments and mandating financial establishments to deposit 50% of their liability before appealing recovery orders. These changes modernize the law to tackle emerging digital asset scams and protect depositors.
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