Legal Aspects to launch an ICO in India

[echointe]

Hi Friends

I want to know if there is anyone here expert in ICO and fundraising through ICO and Coin Sale and technically mastered.

My Questions are :

1. What is legal formalities to launch an ICO ?
2. Is there any way to raise fund through peach only or you need support of good advisory team?
3. Ahh.... What can be primary expenditure?
4. What technology to use for alt coin?
5. Project is very sound and first of its kind... So will it attract ?

Thank you

Will wait for your answers

[HongKong]

Hi Friends

I want to know if there is anyone here expert in ICO and fundraising through ICO and Coin Sale and technically mastered.

My Questions are :

1. What is legal formalities to launch an ICO ?
2. Is there any way to raise fund through peach only or you need support of good advisory team?
3. Ahh.... What can be primary expenditure?
4. What technology to use for alt coin?
5. Project is very sound and first of its kind... So will it attract ?

Thank you

Will wait for your answers

Why are you specifically targeting that area for the ICO?
You would have a coin that is on the Internet and it doesn't have to get linked to anywhere in the world.

[echointe]

I am not targeting only Indians but asking for legal formalities for bringing ICO company registered in India.

[sarfwr]

It seems that there are no formal legal and industry regulations in ICO, so it is not necessary to worry about the legal issues at the beginning of an ICO, at least in my country.

[Aeny France]

Hi Friends

I want to know if there is anyone here expert in ICO and fundraising through ICO and Coin Sale and technically mastered.

My Questions are :

1. What is legal formalities to launch an ICO ?
2. Is there any way to raise fund through peach only or you need support of good advisory team?
3. Ahh.... What can be primary expenditure?
4. What technology to use for alt coin?
5. Project is very sound and first of its kind... So will it attract ?

Thank you

Will wait for your answers

1. Formalities to launch ICO in India:

• Currently, crypto/virtual currencies and ICO’s remain unregulated in India. The Government is yet to finalize a regulatory mechanism so as to govern and regulate crypto/virtual currencies.

• RBI on 1 February 2017 issued a press release, cautioning the users, holders, and traders of crypto / virtual currencies. The press release stated that RBI has not given any license/authorization to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with virtual currencies will be doing so at their own risk. The RBI in this press release also mentioned the press release published by the RBI cautioning the users of virtual/cryptocurrency

• The Ministry of Finance on 12 April 2017 constituted an Inter-Disciplinary Committee chaired by Special Secretary (Economic Affairs) to examine the existing framework with regard to virtual currencies. The Committee was constituted to provide a detailed report on (a) take stock of the present status of virtual currencies both in India and globally; (b) examine the existing global regulatory and legal structures governing virtual currencies; (c) suggest measures for dealing with such virtual currencies including issues relating to consumer protection, money laundering, etc; and (d) examine any other matter related to virtual currencies which may be relevant.

• The Government panel is also contemplating introducing compulsory Know Your Customer (KYC) norms in order to regulate the kinds of individuals/entities who can invest in these activities, and be able to track and identify them. If cross-border payments are involved, then it will automatically fall under the scope of FEMA rules and regulations

• As of date, there is no regulation tabled before the legislature.

2.Choose the best the ICO development company for the advisory.

3. Based on the requirement

4.blockchain technology

5. sure

[maculeth]

it looks like you can find the answer to your question when you enter the bountyplatform.com and try your own ico launch. do not need permission from any party including the government, so you can freely manage your ico, such as committing fraud. lol  

[sudeshkumar]

Wait for a while until or unless govt of India allow the crypto currency market a legit status perhaps feb19 is fixed for review moreover do not limit your ICO to specific area it should be worldwide.

[oppo070]

It seems that there are no formal legal and industry regulations in ICO, so it is not necessary to worry about the legal issues at the beginning of an ICO, at least in my country.

In some country, there is, such as USA. Well, to say, creating an ICO do really needs a regulation to secure its reliability at the same time, limit the unwanted ICO to enter the market. Well it is just like a capstone that every team should strive to pass in order to compete in the market. Not allowing some worthless projects to overtake the good ones.

[batang_bitcoin]

If you have no idea of running an ICO then you shouldn't do it in the first place.

It's not like that you're getting answers from the people here but you have to be solid with the company and what they really are funding with that ICO. First things first now, you have be registered and you should go to SEC of India.