Topic: Would it be legal to create new crypto? - page 6. (Read 23074 times)
you have yourself said that bitcoin is not illegal , so you totally have the right to make any crypto currency, many alt coin are being introduced if you able to make it popular,then it would get in eyes of government there might be some regulations or rules imposed on it but as per current scenario of legality in the country it won't be illegal thing to do.
It seems to me that the creation of new coins is no problem. Even if your country is banned you can host your website and wallet in any jurisdiction. But in most countries now there are no direct prohibitions. Governments do not know how to deal with the invasion of cryptocurrency and so now they are developing a mechanism that allows you to control this process.
Yes it legal, until trading of concurrency is considered legal in India.
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 ..
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 is absolutely nothing wrong with creating any new altcoin as there are many people in India who are regulating and building there own crypto (for instance we have lala coin in India) . It is not illegal until you miss use it to earn money. This will lead you behind bars. Other than that its safe to launch Altcoin .
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?
I think if you have the freedom to create a new crypto if your country does not regulate it . There are many alt coins present in the market at the moment . I don't think that even 20% of them seek permission legally from their government . Moreover , if there are no stated laws then obviously it will not be a major offense to create your own crypto .
You can also consult some financial advisor .That will be a wiser attempt to this discussion.
Yes its legal and its more good because the more crypto the more crypto transaction so many job are going to have if that happen.I think if the crypto is already legal and acknowledge in your country you can create also a new crypto.See the many trading site there's a lot of coins here and they authorized in different country
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?
as you already said, it was not regulated yet so you can't get arrested. but i think it is already near that in the future it will be recognized by the government.
It seems to me that the coins already there is such high competition that it can be very difficult. Even if you have no intention originally to create a Scam but the local people do not have available funds to invest in your project can turn it into a Scam. Maybe you should try to trade for bitcoins. This niche is now completely free.
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?
If bitcoin and altcoins are legal in your country then it is your right to facilitate or create of your own coin thru ICO because there is policy or guidelines that need to be follow if you want to create of your own ICO in which the guideline is according to your regulation policy in order for the government to determine the legality of your coin. If your intentions are good for making your own ICO then nothing to worry because you are abiding your ICO policy.
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?
I think you will not be considered doing something illegal since as you stated cryptocurrency is not declared illegal in your country nor it is regulated. It will only become illegal if the currency you would create can violate some existing laws in your country like using it to buy or trade something illegal otherwise you are safe in creating it. If you earn something from it and converted to fiat then you may have to pay taxes to your government because you earn an income from it. If it gets widely accepted then the government will surely act upon it and as long as you follow their rules then you will not be penalized.
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?
I think you will not be considered doing something illegal since as you stated cryptocurrency is not declared illegal in your country nor it is regulated. It will only become illegal if the currency you would create can violate some existing laws in your country like using it to buy or trade something illegal otherwise you are safe in creating it. If you earn something from it and converted to fiat then you may have to pay taxes to your government because you earn an income from it. If it gets widely accepted then the government will surely act upon it and as long as you follow their rules then you will not be penalized.
Now the cryptocurrency market is not regulated by the state. They want to income tax the cryptocurrency but they know it's a very serious competitor for the Fiat and so afraid of it. I'm sure that legal uncertainty is still very long. You intersect with the government only when converting cryptocurrency to Fiat. So if your cryptocurrency will have possibility of use in trade without conversion then you can not violate the laws of the state.
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?
As you have said, Bitcoin is not illegal in your country nor it is regulated. Thus, the general rule then is that it is legal for all intents and purposes. Nevertheless, the question as to the legality of creating a new altcoin, is a totally different matter. In this, you would have to verify with your own laws, rules and regulations on how to treat the creation of new cryptocurrencies. You have to take note that transacting with Bitcoin and creating Bitcoin (altcoin) are different matters which require different solid basis both in law and jurisprudence.
At first I think you should read the law about cryptocurrency in your country more carefully to see that only Bitcoin is illegal in your country or all other cryptocurrency is the same. If it's for Bitcoin only, you'll not have to go to jail or pay forfeit because of creating a new cryptocurrency by yourself. As I know there are a lot of Bitcoin users but nobody has to go to jail for it, you can easily find out a lot of member in this forum come from India 
)
) 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?
I don't see any problem on stating your own alt coin on your country specially as you said your country
is not considering crypto currency as illegal and they are also not regulating it then you can develop
your own coin anytime. By default if a country don't prohibits the use of crypto currency then it is legal.
The only time that you will be subject for incarceration is when you violated your country's existing laws
on the use of that crypto currency.
I think not, but it depends on the laws of your country
Although my government forbid bitcoin usage but my people still able create ICO and use it without being fear breaking the law
As we can see also, there are many ICO occur recently !
If your country states that bitcoin is not illegal , then it is likely that they might not arrest you for that .
But i would say prevention is better than cure , you must take legal permissions before doing that so that there are no future barriers and future losses to your crypto currency . Moreover , they are not going to get bothered about it until and unless it will be a threat for them . There are like thousands or even more than that crypto currencies in the market , how many of them you think are regulated or permitted from government ?
But i would say prevention is better than cure , you must take legal permissions before doing that so that there are no future barriers and future losses to your crypto currency . Moreover , they are not going to get bothered about it until and unless it will be a threat for them . There are like thousands or even more than that crypto currencies in the market , how many of them you think are regulated or permitted from government ?
no i think that it will not be illegal to create your own cryptocurrency, because as of now there are countless cryptocurrency are popping out, and what's more is thatcyptocurrency in your country is legal so it will be easy for you to create one, but if your cryptocurrency is posing a threat against the country's currency they will have to ban your cryptocurrency.
'Not Illegal' means legal. You are doing nothing wrong or illegal unless India takes some regulatory action or Ban Crypto currency in the country. You are free to create and from Crypto till then. So keep faith and enjoy earning.
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