Not that you are in trouble though but you will be branded for the rest of your life. If you intend to do ICO, you should have a revolutionary coin concept because users as of now have seen it all.
Topic: Would it be legal to create new crypto? - page 10. (Read 23022 times)
The only you will get in trouble is that you turn out to be scam. Lets say you do have a pre-mined coin and you sold everything you have leaving those who have your coins with nothing. Not that you are in trouble though but you will be branded for the rest of your life.
If you intend to do ICO, you should have a revolutionary coin concept because users as of now have seen it all.
Not that you are in trouble though but you will be branded for the rest of your life. If you intend to do ICO, you should have a revolutionary coin concept because users as of now have seen it all.
I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?
There are thousands of alts, including ones in your country.
This forum has a sub-board for discussing alts in India.
So unless you plan on creating a ponzi scheme/swindle scheme, you should have nothing to worry.
I think is no, cryptocurrency is free to all. And until now there has been no central bank regulates and approves about Cryptocurrency. Go ahead to create new Crypto as you want.
Every jurisdiction is different but I wouldn't be surprised if most of them do have laws against issuing your own currency, that's why so many developers are anonymous. And if you try the ICO/IPO route that opens up and even wrigglier can of worms.
I agree. Even if there is currently no law against it, it may be implemented quickly. In general it is not advisable to openly compete with government in one of its core foundations of power. Governments hate competition and hate loosing power. So the officialdom will be very creative in constructing reasons for prosecution if they are afraid of loosing control. This is even more true for nations with a questionable democratic tradition and a fragile law system.
So the real question is not if issuing an altcoin is illegal or not. The real questions is, if you can expect negative effects regardless of the legality. I'm pretty sure the answer is yes. So if you want to do it better stay anonymous.
ya.ya.yo!
Every jurisdiction is different but I wouldn't be surprised if most of them do have laws against issuing your own currency, that's why so many developers are anonymous. And if you try the ICO/IPO route that opens up and even wrigglier can of worms.
i think yes, one can create his own currency, as we can see that most of people have developed their own currency and then launched in different exchange just like bitcoin or any other crypto currency but the its success depend on the interest of the people if people take interest and invest money in your currency then the price of your coin will increase.
to me it must be legal, as most of the people have created their own currencies, but to apply it in a state then it depend on the policy of the state, i think in most of the state it will not be legal to introduce a new currency and encourage people to use it for their shopping and in business also.
May be they can ban your cryptocurruncy if they find it is posing challenge to their national currency.Government can't allow their citizens using other method of payment and relinquish their money
I guess no, you will not be arrested and as what as you said bitcoin is not illegal in your country so how will you jail and who will do it for you. There are so many cryptocurrencies now and I guess there's not even one got in jailed because of creating some new cryptocurrency
I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?
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