Would it be legal to create new crypto?

[spikerrr]

No problem about that as long as you follow every guidelines on how to make new crypto legal. Of course it should be helpful for the community.

[BeGoods]

Yes, i notice that every country has a regulation, they limit their citizen to invest in ICO that's why some countries especially in S.Korea and China are regulating new law about ICO. i think U.S right now is studying the rules on how to implement ICO coz the government itself don't want their citizen to invest in such a risky investment.

You know the velocity/circulation of money in ico investment is huge up to millions dollars, of course the government will not let it all without a profit for them. so a rule is made in some countries for ico investment. I myself don't know the rules that are given to ico. but seeing more and more ico coming, of course make a new crypto is legal thing..

[goaldigger]

Your question is contradictory. If india ban cryptocurrency or illegalize it for some reasons, then making your own cryptocurrency is illegal also. If even trading and acquiring crypto is illegal, what more making your own?. Even you make the process secret, the government would still found it later on.

[MiF]

Yes, i notice that every country has a regulation, they limit their citizen to invest in ICO that's why some countries especially in S.Korea and China are regulating new law about ICO. i think U.S right now is studying the rules on how to implement ICO coz the government itself don't want their citizen to invest in such a risky investment.

You know the velocity/circulation of money in ico investment is huge up to millions dollars, of course the government will not let it all without a profit for them. so a rule is made in some countries for ico investment. I myself don't know the rules that are given to ico. but seeing more and more ico coming, of course make a new crypto is legal thing..

In my review here, the legalities of a new crypto after the ico success could have the potential to grow itself. The rules may apply for further scrutinization against the government regulations, and between two parties we are able to have freedom to do investments. Hopefully all type of governance will be there to support newly developed crypto in order to generate profit, not just with stable crypto but also for the latest cryptocurrency.

[stomachgrowls]

Yes, i notice that every country has a regulation, they limit their citizen to invest in ICO that's why some countries especially in S.Korea and China are regulating new law about ICO. i think U.S right now is studying the rules on how to implement ICO coz the government itself don't want their citizen to invest in such a risky investment.

You know the velocity/circulation of money in ico investment is huge up to millions dollars, of course the government will not let it all without a profit for them. so a rule is made in some countries for ico investment. I myself don't know the rules that are given to ico. but seeing more and more ico coming, of course make a new crypto is legal thing..

In my review here, the legalities of a new crypto after the ico success could have the potential to grow itself. The rules may apply for further scrutinization against the government regulations, and between two parties we are able to have freedom to do investments. Hopefully all type of governance will be there to support newly developed crypto in order to generate profit, not just with stable crypto but also for the latest cryptocurrency.

How good it is to have that kind of adoption or recognition for both old and new projects do possibly exist on the market.The thing what matters most here is on when if theres a regulation then expect it will pull out the total anonymity into its investors but somehow having a security on exchange is always a good thing. Now, banning or regulating ICO is gradually happening and its no surprise that we would see upcoming projects to comply governments requirements.

[Flyne d Coin Digger]

It is a privilege of anybody to use your coin for.a good cause, some may find it annoying but as long as your purpose has a good vision like helping peoples then I don't see any aviation there as long as you follow your country's protocol as well.

[lycipher]

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 could create a coin or token, no problem. And while you are using it solely there is no problem with that at all. But the problem arises when it is being used by several people and treated like, or almost like Bitcoin.

[Mukarram Tariq]

I think so because crypto it self not a country property and currency its a open source currency. Everyone have a right to creat its crypto. He or she just have a knowledge how it work how its creating method.

[PTsang]

It all depends on the laws and regulations in your country?

[Bharathi13]

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?

Indian government haven't given any clear decisions VCs weather it is illegal or legal in India but OP think just once about this two projects as follows.
1) LALA World - Almost all team of the project are Indian and the name of the project is also taken from india. LALA looks successful project and it is being accepted widely and they are now expanding their bussines, But they started their project in Singapore why???
2) We all Indian know about Subhash Jewria founder of ATC coin he is Indian but his project is registered in London, England. Why???

There are several more examples we can, even upcoming exchange INCX is also Indian project but they are starting their project from Singapore. There may be some legal rules you need to find the perfect person who can guide you. In my knowledge sankalp shanghari founder of LALA world and Subhash jeweria both are down to earth person if you get in touch with them, they will surely help you.

Also Indian government should make their stands on VCs because this confusing decisions are creating brain drain situations in India. Lot of blockchain startups are moving into foreign to start their project.

[Tylev]

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?

In all civilized countries, the principle of presumption of legitimacy of transactions, which are enshrined in their Civil Codes, operates. This has been effective since Roman law, which became the basis for the adoption of a set of laws on the right to private property. This principle implies that any transactions that are not expressly prohibited by law are legitimate. Therefore, if there is no direct prohibition on crypto-currency activities in India, any activity with it, including the creation of altcoyins, should be considered legitimate.

[josephdd1]

The legality is not so much of a concern at this moment. Do not let this put you off. So long as you have a well defined idea, capital and all the other relevant things go for it and make it happen. This is what the people who developed the current ones did and later, once it succeeds you can concern yourself with the legal issues. It may not be legal in one country but it could be in another.

[lokanot0]

I guess not. If there is no law prohibiting it, then it should be legal. An action can be illegal if a law has been created prohibiting such action. Since your country does not prohibit such creation of a new altcoin, then it should be okay to create one.

[hitchcoin]

It will always be interesting, relevant and extremely difficult. It is difficult to reach a certain level in the development very quickly and even with success. However, now such currencies are becoming more and more.

[deppil]

It is a privilege of anybody to use your coin for.a good cause, some may find it annoying but as long as your purpose has a good vision like helping peoples then I don't see any aviation there as long as you follow your country's protocol as well.

for now there is no specific requirement to make a new cryptocurrency. the government will not intervene in you. but the problem is not legal or not. but how to make crypto innovative so that it is in demand and helps many people. because currently there are hundreds of crypto that have the same specifications and undemand

[KorakPawon]

Firstly, I think it's not illegal since bitcoin itself is legal in your country. And I guess law is law, they do what has to be done according to the rule, and it's another advantages that crypto is unregulated, it keeps decentralized. Secondly, I also think that it's okay to create a new crypto, moreover if it's spread out and accepted, you'll be more advantageous.

[roadwell890]

as long as the crypto (altcoin) you make is not directly related to India's economic system, especially the ICO and its use in public business, it will not conflict with regulations.

Your creation is general and you can still use it for development on a global business scale. The government only protects their economic sovereignty and does not mean that it inhibits all crypto innovations that have the potential, they only secure something that tends to have the potential of a very wild movement with limited regulations on a national scale.

[basyang]

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?

For me if you will create a cryptocurrency then make sure you will not using any information in your country just a broad usage of coins to transaction. Many cryptocurrency are making every month because they believe that ine of those coins/tokens will be famous and it can help us to our transactions. Well I do not think if you will be out behind bars once you create cryptocurrency as long as it did not put your country at risk and it will not be used in illegal activities.

[skish85]

Since I regularly review many new ISO projects, I can say with confidence that many developers come from India. Therefore, you can easily create cryptocurrencies, especially since you, as you say, it is not prohibited by law.

[Irvinn]

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?

As a general rule, the rule of presumption of legality of transactions is fixed in all civil codes of states. That is, all transactions that are not explicitly prohibited by the law and do not contradict the generally accepted rules of behavior in society are considered legitimate. That is, according to this rule, you can create altcoins, if the domestic legislation of India does not contain a direct ban on doing so. Therefore, you need to refer to the laws of your country.