Milhouse: The Gemara in Shevuos derives a number of halachas from the Possuk of Midvar Sheker Tirchak but all of them are exclusive to the courtroom. The be posuk is contextually surrounded by pesukim which are dealing with the workings of a court. The Rasbam, Rambam and Sefer HaChinuch rule this possuk is not as a distinct prohibition but rather applies only in a court.
Though the Yerei’im rules this posuk does apply as an individual Halacha even outside of a courtroom, however he says that the prohibition only applies when it is a lie that can lead to harming or causing damage to another. However, if there is no damage that can result from the lie then it is only a virtue, not a prohibition.