Would it be legal to create new crypto?

[Sharma]

You say that bitcoin is illegal in your country and also altcoins are illegal, yes?

I think that creating a cryptocurrency isn't an illegal thing and you won't be arrested but what about to use VPN at the same time? There is much illegal things and people are doing that but no one is arrested.

And while you are going to make cryptocurrency, are you doing it alone or do you have a team? Can you develope and make a known cryptocurrency?

Bitcoin is not illegal in my country yet neither any other alt.When you do other illegal activities like vpn.you do it secretly and individually so chances of your getting caught is less.Creating crypto may directly challenge govt currency.It will get more attention

[Theorin]

I do not think that it is illegal if not lafel be known as Bitcoin, and for such a business you need a lot of funds

[YTBitcoin]

A lot of people are creating their crypto coins and they are not facing any issue of illegality, I think you should also have to try but make sure that you will have a larger amount of money for that , and escrow is also compulsory, especially for those developers who are from third world country.

[Das]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

[deadsilent]

Its depends in your country. Is your country not allowed the people to use bitcoin only? Or any cryptocurrency? If bitcoin only is prihibited, then making another cryto is fine. But dont assume that you will be successful. Some altcoins are not successful.because the lack of support but goodluck with that.

[Sharma]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

[Universat]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

yes it is a fact that there is no law against it and every one can make create their own currency but after that the launching of the currency in exchange is really a problem , it need a lot of effort and money to introduce it in the market.

[botany]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

[Hazir]

You say that bitcoin is illegal in your country and also altcoins are illegal, yes?

I think that creating a cryptocurrency isn't an illegal thing and you won't be arrested but what about to use VPN at the same time? There is much illegal things and people are doing that but no one is arrested.

And while you are going to make cryptocurrency, are you doing it alone or do you have a team? Can you develope and make a known cryptocurrency?

Op never said that bitcoin is illegal in India, you are confused. All he said that it belongs unregulated grey area - as in most countries at this moment.

As for people who say that ban of altcoins or bitcoin can be introduced I doubt that happen, after all I like to think that: Lex retro not agit.

Even if creation of altcoin is perfectly fine in most locations, it is cheap and requires very little effort - I would advise against creation of new amateurish alts - it is a dead end in almost every case.

[Sharma]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

[Gosh]

According to your local law, you may be not completely free to emit a coin.
You aren't going to spend tons of money once Flood will be online.
One thing anyway is emitting tokens for fun with friends,
another thing is if later then you decide to find an exchange platform for your coin.
The way the coins are used changes their role.
Flood is created by Monkeyscage, with few eth and one click you can can build your coin.
Unfortunately all buyers must be public and show up, or you don't get the code, or the monkeyscage will become a promoter of illegal values.
And this is not the plan. The plan is to produce software for who needs it, in total transparency.
Expecially because flood technology introduces a new standard (Flood technology may litherally change the old idea of cryptos, and also the idea of exchange platforms, let's see), pretty cool, but very likely illegal unless you have some kind of permission.

But this is just an opinion. You should ask a professional.
Flood will ask your personal informations and publish them on the blockchain.
Just to avoid problems. After all if you have nothing to hide , it is just free advertising for your coin.

Forget the new standard if you are anonymous, until this world of cryptos will be better ruled.
And once it will be ruled... forget to be anonymous lol
And anyway...if you want a famous coin... beeing anonymous at this point of the game won't really work..

By the way... launch price 3 ETH (ridicolous, for few days)
The monkeyscage will produce also modules to give further functionality to your coin.
Custom coins can be requested.

[groll]

I think yes it is legal.  Because when bitcoin was created and then follows more digital currency, there is no limitation or governments regulation on how many should digital currency should be.  I think as long as you know how to code and make some programs then you could make a new crypto.  Many cryptos today turned out to be a scam after pooling some funds.  If ever you created a new crypto please let us know.

[BossMacko]

Well if you are going to create a crypto it is better to make it legalize so that many people will use your crypto. Bitcoin is not legal nor illegal depends on the country its just that it is the first crypto that ever made that is why until now it is alive and many people are still interested with it.

[botany]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

That is a risk you take with any business - it is called political risk.
You start an ice cream shop. Tomorrow the government might ban it.
It is the same with crypto-currencies.

[Sharma]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

That is a risk you take with any business - it is called political risk.
You start an ice cream shop. Tomorrow the government might ban it.
It is the same with crypto-currencies.

But some business have high potential risk.Like in your example chance if government banning Ice cream is much much low than governments banning crypto currency

[Maesters1-]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

That is a risk you take with any business - it is called political risk.
You start an ice cream shop. Tomorrow the government might ban it.
It is the same with crypto-currencies.

But some business have high potential risk.Like in your example chance if government banning Ice cream is much much low than governments banning crypto currency

i think most of the countries are not going to legalize alt coins but they still not banned it and hope that government will accept the trading of alt coins in future, 

[Superways]

There is no any restriction and ban anywhere on creating a new altcoin/cryptocurrency in any part of the world so you are free to take a start, none of the government will ban or punish you for that act.

[Xester]

I do not think you will be jailed if you create a new cryptocurrency.  I do not know if Satoshi Nakamoto or any founder of bitcoin actually go through some process of licensing the rights or anything under their names as the owner of bitcoin into the government.  You will just doing another digital currency that maybe beneficial for people who were seeking alternative crypto aside from bitcoin.

[botany]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

That is a risk you take with any business - it is called political risk.
You start an ice cream shop. Tomorrow the government might ban it.
It is the same with crypto-currencies.

But some business have high potential risk.Like in your example chance if government banning Ice cream is much much low than governments banning crypto currency

Well, risk is part of the game. If you are willing to take higher risks, you will get higher returns.
Not too many people have gotten rich by starting an ice cream shop. 

[zahra4577]

Since there are no laws in India against digital currencies, you have not broken any law by creating a new digital currency. However widespread acceptance requires a lot of work from the developers.

There is certainly no laws against it at present buy I am assuming a scenario where an Altcoin become so popular that people started preferring it over national currency.How would government react then?Will they not make law to curb it?

They might make laws curbing its use, but it is unlikely they will make the act of creating it punishable retrospectively.
Future laws might cause losses to you, but you wont get punished for doing something which is actually legal now.

Yes but I might suffer huge losses if I invested lot of money creating a good Alt and had to given up on it later due to some legal hurdles or government interference.We need some kind of international laws to patron cryptocurruncy

That is a risk you take with any business - it is called political risk.
You start an ice cream shop. Tomorrow the government might ban it.
It is the same with crypto-currencies.

But some business have high potential risk.Like in your example chance if government banning Ice cream is much much low than governments banning crypto currency

Well, risk is part of the game. If you are willing to take higher risks, you will get higher returns.
Not too many people have gotten rich by starting an ice cream shop. 

Starting a illegal business is not risk but foolishness and you will end up in jail for your venture