Would it be legal to create new crypto?

[bitcoincardreview.com]

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 think if you not growing fast that will be ok. if it growing fast, then you get stop by india government

[1714963409]

1714963409

[Maesters1-]

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.

yes i am agree with you but if you going to start a business or any other activity you have to take permission from the government even you want to start an ice creams shop you must take permission from the government and only then you can run your business, so if you have no permission from the government about bitcoin then you will certainly face so many problems.

[PsursV]

May be they can ban your cryptocurruncy if they find it is posing challenge to their national currency.Government can't allow their citizens using other method of payment and relinquish their money

creating a new currency is not an issue but then to legalize it in a country is the main issue. you can see that there are thousands of currency created by people and owning it but still not a single one is legalize by the government and i thin it is still not effect the currency or economy of the states there fore they are not taking any action against it, if they feel that their economy or currency is effecting by these currency then they must take some action against these coins.

[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. 

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

The question is not about starting an illegal business. It has been agreed that starting a new altcoin is not illegal now.
However, there is a possibility that the government may outlaw it in the future. It would be tough for the government to jail you.

[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?

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

The question is not about starting an illegal business. It has been agreed that starting a new altcoin is not illegal now.
However, there is a possibility that the government may outlaw it in the future. It would be tough for the government to jail you.

but in present time there is no statement by any government that either it is legal or illegal, so i think creating new crypto is not illegal i even cannot say that either it is legal because still not a sing government has yet consider it as legal so it is in between and you are free to create new for the time.

[PacePay]

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

The question is not about starting an illegal business. It has been agreed that starting a new altcoin is not illegal now.
However, there is a possibility that the government may outlaw it in the future. It would be tough for the government to jail you.

but in present time there is no statement by any government that either it is legal or illegal, so i think creating new crypto is not illegal i even cannot say that either it is legal because still not a sing government has yet consider it as legal so it is in between and you are free to create new for the time.

everyone is creating a new crypto currency so it means that it is totally legal in the law of any government. If it was illegal then no one would be able to create a new crypto currency. You can see in the altcoin announcement section there are a number of projects which are running with the named developers and they do not face any issue with that. So it is fully legal.

[Dora Doll]

i think yes it is legal to make your own currency, but if you are going to add it in exchange then that the real challenge for you and you need really hard work to make it a successful crypto currency and people also invest some money in your coin.

[mehak alam]

yes creating new currency is legal, and there is no banned on it,

[fatima zuhra]

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

The question is not about starting an illegal business. It has been agreed that starting a new altcoin is not illegal now.
However, there is a possibility that the government may outlaw it in the future. It would be tough for the government to jail you.

but in present time there is no statement by any government that either it is legal or illegal, so i think creating new crypto is not illegal i even cannot say that either it is legal because still not a sing government has yet consider it as legal so it is in between and you are free to create new for the time.

everyone is creating a new crypto currency so it means that it is totally legal in the law of any government. If it was illegal then no one would be able to create a new crypto currency. You can see in the altcoin announcement section there are a number of projects which are running with the named developers and they do not face any issue with that. So it is fully legal.

but i think not a single country has yet consider bitcoin or any other currency as legal therefore no government is still not allowing any currency as legal to be use in their state,

[satdas]

yes there is no doubt about this that it is legal to create new crypto currency and that is such an easy job not a difficult one, but after that you need to give full support to it and find a place in exchange and introduce it in people in a good way.

[Superbitzz]

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 think if you not growing fast that will be ok. if it growing fast, then you get stop by india government

i think it is false news because if you are legally wining a good amount of money then how can your government stop you from earning more bitcoin?

[audaciousbeing]

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 think if you not growing fast that will be ok. if it growing fast, then you get stop by india government

i think it is false news because if you are legally wining a good amount of money then how can your government stop you from earning more bitcoin?

From my readings so far, I dont think it is expressly stated in most countries that creation of crypto currency is illegal as most laws are just silent about the matter and countries are waiting for things to unfold before taking the next line of action probably because they are pre-occupied with more mundane things. However, where the concern is is USA as there are serious regulations one have to comply with if youre to to deal with cryptos thats why some exchange or service providers exclude people from this country.

[Superbitzz]

yes creating new currency is legal, and there is no banned on it,

yes i also agree with you that it is legal for those people who want to create a new currency, you can see thousands of alts coin have been created by different people, but i think it also depend on your country policy

[kollo99]

in one sense it is not legal because not a single country has yet consider bitcoin as legal currency therefore creating new coins are also illegal. but as even not a single country still consider bitcoin as illegal therefore creating new coins is also can be legal.

[youhgt2]

yes there is no doubt about this, you can really create a new crypto currency and is legal but if you are going to implement it in your country then it is not legal.

[Superbitzz]

to me i think it is really legal to create a new crypto currency,as most of the people are creasing it but i think it is the most difficult job to make it popular and then add it in the  exchange so that people start using it.

[ayesha sadiqa]

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 think if you not growing fast that will be ok. if it growing fast, then you get stop by india government

i think it is false news because if you are legally wining a good amount of money then how can your government stop you from earning more bitcoin?

but every government has their own term and condition and rules, regulation and you have to follow these rules regulation if you want to leave there as a good citizen,

[x|8y8|x]

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 think if you not growing fast that will be ok. if it growing fast, then you get stop by india government

i think it is false news because if you are legally wining a good amount of money then how can your government stop you from earning more bitcoin?

but every government has their own term and condition and rules, regulation and you have to follow these rules regulation if you want to leave there as a good citizen,

yes that is a fact and you must follow these rules other wise you can be punish by the government for not following the rules and regulation the  that states.

[Visin]

I think of the whole Altcoin trading and building of the coin to be in the HYIP category. Why would anyone buy your worthless coin if you are using it to trade against Bitcoin and the currencies mentioned from the IMF?

It just doesn't make sense. I don't think that it is illegal to build it.

[darety1]

Is it necessary to create new crypto? Why do we need so much kinds of cryptocurrency? Bitcoin it's enough for me. I've wasted a lot of time and money to get bitcoins and now I don't want that all this be in vain.