Would it be legal to create new crypto?

[rodel caling]

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

That is correct mate OP nothing to worry about they want to create new crypto coins. However op need to create also an promotional team for their plan.

At the moment India situation has been worsening, reading a lot of reports which suggest fll out ban with criminal charges who dont obey.

But in general it could be interpreted as illegal since you are makeing new currency in country where there is only one legal currency.
You can say that there was a "precident" with Estonia and the governing EU , they shut Estonia's idea right down -> https://qz.com/1072740/mario-draghi-of-the-ecb-dashes-estonias-plan-for-an-estcoin-cryptocurrency-backed-by-the-government/

Yeah india government proposing a ban for cryto because we know government want to collect taxes and the way to implement that is to ban crypto for awhile and implementation at regulation.

[1714799984]

1714799984

[jaocoincrypto18]

It would be a legal if Crypto currency is still not declared illegal in your country but still you will  be required by your government of some documents for you to have a permit to operate to ensure that your own business is legal and really exist.

[412AceLoc]

 
that is a good question.....but before you all jump ship, bless my wallett

3A5EpbgV9PvDWPuRS7cp46xonAVW9Sbpf3

together we can!

[samcrypto]

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?

Since there are no formal banning of bitcoin in your country, ther are no reasons why you will put behind bars on making an altcoin. I also see that youre confident enough to say that your altcoin will have a future and if you produce that good, who knows, maybe it can be the next leading altcoin in the future.

[marcbitcoins]

Indian government is still in confused and still in the discussion table regarding their stand on Crypto legality issue therefore i suggest that you should wait for your government final decision before making your own plan to create your own crypto as your effort, time and money might be wasted in case they will not allow the Crypto to stay in India.

[Quidat]

Indian government is still in confused and still in the discussion table regarding their stand on Crypto legality issue therefore i suggest that you should wait for your government final decision before making your own plan to create your own crypto as your effort, time and money might be wasted in case they will not allow the Crypto to stay in India.

It will either still takes time or would shortly be implemented when the final decision comes out.
If such country is still on the process or on talks about their own perspective and final verdict with crypto market
then your choice if you do early make your own coin or just wait up for the decision.Ive seen some project owners
do still took advantage on that neutral state of the estate towards crypto and if they do make it legal or adopted then
thats the time they do get up some permissions.

[nrnahid]

I think that's right, 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.

[judeafante]

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 already said that Cryptocurrency is illegal in your country, and if they have a law that prohibits and punishing for creating a Cryptocurrency, you will be punish according to the law that governs where you reside, better check your law before you start something like this, you can create a utility token but not sell but you need approval first.
It's either you migrate to another country or wait for the government to ease up with their regulations.

[robelneo]

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?

If you are going to create a token exclusively for your group or your company and you are not going to use it as an investment vehicle, then you can do it as long as it does not violate existing laws in your country, but if you are going to promote it as an investment with a promise of future profit, it will be categorized as a security and you will be subjected to regulation by your country, you cannot go to jail as long it is not an investment, or if you have a product involve you can promote it as a utility token, better adhere to the laws and rules of your government.

[TRONTON]

everyone is free to make their own crypto currency, it doesn't matter if it's used to focus on the global business transaction network, so there's no need to use or come into contact with your country's economic system.

Unless you issue an investment fund program or want your token to actively develop in terms of utility in real business in India publicly, it must have strong accountability. The government's average ban is still strong only in the crypto investment sector, not system development.