Hi,
I think it is not illegal to start earning your own currency, and how any one know what you do in your pc, so If you are from India it's not a big issue, that's why I think your government is not focused in that field so they will not bother you in that matter.
Topic: Would it be legal to create new crypto? - page 5. (Read 23074 times)
i think you must ask to crypto web maybe there admin answer you.
Whose admin would answer such thing? Doesn't make any sense since this is a forum if he do ask here then simply members or community would really give their own opinions that might be applicable on such decision you would made.yes absolutely legal. There is no such guidelines that stop you from creating or investing in a ICO in India. Many Indian crypto enthusiast are working in some way or other to create their own ICO to raise crowd-funding for the concept they have in their mind.
Indicoin – India’s first ICO was launched on 1st October, 2017.
Indicoin – India’s first ICO was launched on 1st October, 2017.
As far as what I have heard India is going to go strict on ICO part. Also the committee report which is being waited seems to ban the cypto currency in India. This might be a big blow which may come in some time. I think govt will never encourage any one to take public money for their coin unless it is being controlled by them.
yes absolutely legal. There is no such guidelines that stop you from creating or investing in a ICO in India. Many Indian crypto enthusiast are working in some way or other to create their own ICO to raise crowd-funding for the concept they have in their mind.
Indicoin – India’s first ICO was launched on 1st October, 2017.
Indicoin – India’s first ICO was launched on 1st October, 2017.
As far as what I have heard India is going to go strict on ICO part. Also the committee report which is being waited seems to ban the cypto currency in India. This might be a big blow which may come in some time. I think govt will never encourage any one to take public money for their coin unless it is being controlled by them.
i think you must ask to crypto web maybe there admin answer you.
Unless there is law in your country banning any creation of cryptocurrency, you will be arrested if you are caught doing it. Many countries are still against the use of bitcoin or any virtual currencies and they will not allow it to be use as legal tender especially if it is a decentralized currency. The coin developers in this countries should instead go into another country where crypto making is not prohibited.
If it relates to our local laws, as for me, I do not think creating new cryptocurrencies would be illegal since there are no laws making such act illegal or criminal. Otherwise stated, there being no laws forbidding such, creating new cryptos is not illegal for all intents and purposes. Nonetheless, my suggestion is for you to double check with your laws through your respective government officials if we have the same rule of thumb pertaining to such. Because you know, we have different interpretations brought about by our varying customs and traditions.
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 think it's not always a negative, I mean, it definitely is illegal if you would make your own cryptocurrency in a country where it's not legal to do so; however, if you would make them in country that accepts it, then its not illegal per se. Come to consider that ICOs are being introduced everyday, and they basically introduce a new altcoinc which is a form of cryptocurrency as well. They use it as a means to pay transactions in their companies or programs; they also use it as rewards and payments to people who join in their projects. In that sense, it is not illegal to make your own crypto, given that it is allowed.
Yes it legal, until trading of concurrency is considered legal in India.
Yes it is legal to create new crypto and launch a project but if you are having all legalized rights for it. But creating and launching is not difficult keeping it on work is difficult and assuring people that it has promising plans. Better than launching a crypto and working years for it development, just get in to bitcoin and make your money
hi I am from India here 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 crypto curruncy 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 crypto curruncy will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?
Yes it legal, until trading of concurrency is considered legal in India.
Yes it is legal to create new crypto and launch a project but if you are having all legalized rights for it. But creating and launching is not difficult keeping it on work is difficult and assuring people that it has promising plans. Better than launching a crypto and working years for it development, just get in to bitcoin and make your money 
yes absolutely legal. There is no such guidelines that stop you from creating or investing in a ICO in India. Many Indian crypto enthusiast are working in some way or other to create their own ICO to raise crowd-funding for the concept they have in their mind.
Indicoin – India’s first ICO was launched on 1st October, 2017.
Indicoin – India’s first ICO was launched on 1st October, 2017.
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?
I am from India too. Currently no authority governs bitcoin so surely it isn't illegal in this way. Then comes the question of our bank. RBI stated that its not legal but didn't expressly claimed it as illegal which means you can't be fined or arrested or be held guilty for holding or raising bitcoins. But in India we have bigger problems. Even if you create another coin by raising an ICO how in this world you will convert such amount into INR. Moreover its almost unexplainable that you have raised such funds so it will be treated as your income so you have to pay your income tax onto it. 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?
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?
You just have to be careful how you market it.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?
Making false claims as to how fast it will grow in value or misleading people who buy it in any way may cause you difficulties.
No one will complain when things are going right but when things go wrong they will come for your head unless you have covered yourself.
Partner up with someone who has studied a=or practices law, they may be able to guide you through any problems.
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?
You just have to be careful how you market it.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?
Making false claims as to how fast it will grow in value or misleading people who buy it in any way may cause you difficulties.
No one will complain when things are going right but when things go wrong they will come for your head unless you have covered yourself.
Partner up with someone who has studied a=or practices law, they may be able to guide you through any problems.
I also wonder about the legitimacy of a currency not based on a geo-political entity because the base is only a thought and can disappear significantly faster than physical matter. The same may be said of bearer bonds; is that legitimacy of the paper just another popularity contest given that secrets/technology of making quality paper are more transferrable over time.
Don't think it's illegal, they are still discussing what it is: an equity, a commodity or a security. I wouldn't worry about this question too much ..
Yes, actually there are lots of new cryptos now. They are not considered illegal but not are not considered legal too at the same time. Yes, we don't really need to worry about that, what needs to worry is that existing cryptos with unstable price now.
So what you are saying is that they are somewhat on the category of gray area. But for me, if simple creating a coin is not legal per se, unless you are inside a nation which crypto's are totally ban.
But if you are in a crypto friendly nation, there's no doubt that creating new coins is legal. Heck even government are creating a government backed coins so it doesn't make sense that creating new crypto will be an outright illegal.
And I agree with @MerrickMaverick, consulting a lawyer is another layer of protection for you, if you really wanted to build your own crypto. He will give you sound advise to prevent future problems on your end.
Don't think it's illegal, they are still discussing what it is: an equity, a commodity or a security. I wouldn't worry about this question too much ..
Yes, actually there are lots of new cryptos now. They are not considered illegal but not are not considered legal too at the same time. Yes, we don't really need to worry about that, what needs to worry is that existing cryptos with unstable price now.
As always - consult with a lawyer, especially in Asian countries, which are notorious for their harsh laws.
Unfortunately my government decide to make a new regulation on 2018 so it's impossible to use crypto as main transaction.
Because of this decision, my developer can't spend their money to create new altcoin on my place since my government is not support it !
As always - consult with a lawyer, especially in Asian countries, which are notorious for their harsh laws.
Altcoins is crypto currency of course, and it's obviously all of that includes those related with crypto currency that has been declared not illegal. And it's good.. even though it's has been legal.. stay can be to avoid for criminality or scams. Just do it, and good luck on your project.
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