Is it illegal to create cryptocoins?

[rillater]

I never understood why "Satoshi Nakamoto" had to hide for creating Bitcoin. It is nothing more than a programming code.
Apparently in the United States and many other countries it is illegal to issue your own currency, but for a long time Bitcoin has not been considered a currency, it simply was not regulated.

If the legislation has not changed, how is it possible that new cryptocurrencies are now appearing every day? If a project issues a token to finance its ICO, is not it issuing currency illegally?

Now it seems that different countries are beginning to regulate cryptocurrencies, but the criteria differ in each country and even contradict each other jurisdictions, a sentence published by the Court of Justice of the European Union  in 2015 includes bitcoin within the category of "currencies, bank notes and currencies that are legal means of payment", therefore the Bitcoin is not illegal, which contradicts the criterion of the majority of governments of the European Union and institutions such as the European Central Bank, which do not consider virtual currencies as a means of payment.
Can something that is initially illegal be regulated?

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[bitmover]

I never understood why "Satoshi Nakamoto" had to hide for creating Bitcoin. It is nothing more than a programming code.
Apparently in the United States and many other countries it is illegal to issue your own currency, but for a long time Bitcoin has not been considered a currency, it simply was not regulated.

If the legislation has not changed, how is it possible that new cryptocurrencies are now appearing every day? If a project issues a token to finance its ICO, is not it issuing currency illegally?

Now it seems that different countries are beginning to regulate cryptocurrencies, but the criteria differ in each country and even contradict each other jurisdictions, a sentence published by the Court of Justice of the European Union  in 2015 includes bitcoin within the category of "currencies, bank notes and currencies that are legal means of payment", therefore the Bitcoin is not illegal, which contradicts the criterion of the majority of governments of the European Union and institutions such as the European Central Bank, which do not consider virtual currencies as a means of payment.
Can something that is initially illegal be regulated?

Satoshi Nakamoto didn't hide or run away because he was doing something illegal.

He decide to keep himself anonymous for a greater good. If his identity  was a known he could be a problem for bitcoin. Bitcoin decentralization idea could be compromised, centralizing everything on him. Everything he says, every tweet he makes, everything he buys, would be linked to bitcoin.

Bitcoin should not have an owner, a face. One of the things that made bitcoin's success was satoshi's anonymity.

I think he what he did was a truly altruist attitude.


Regarding new created coins, it's not illegal in most countries. Depends on each country legislation

[lili song]

Some countries said illegal, some countries can't accept that. Is depend the rules of that country. Bitcoin decentralized concept and idea. Bitcon will grow fast of that concept.

[Saisher]

It all depends on the rules of your country if you are going to use to your organizations only I doubt if it is illegal but with so many authorities wants to control the propagation of Ico and creation of coins it will one day regulated or totally ban it.

[NadiaHel]

Can something that is initially illegal be regulated?

Bitcoin wasn't initially illegal in any sense. That was just a brand new technology launched into the world. This was based on a whole history of crypto which began in the nearly 90`s with the "Cypherpunk" movement. Since the 90`s great creators as Nick Szabo were creating a new system of money based on the cryptography. They were the direct inspiration, I suppose, to Nakamoto`s Bitcoin. Now, I understand why Nakamoto chose to remain anonymous, for he/she (or maybe they) has/have enough experience in the world of the "crypto-persecution".
Even when the blockchain technology is not illegal, as neither is the creation of a new coin, the experience seems to show how those who defy governments by creating something huge without their consent are sometimes pursued (as Assange, for instance).
Besides, is probable that Nakamoto holds a lot of bitcoins, so he/she has a lot of money. Why become public? To be pursued by ignorants?
If you have seen how new creators are always pursued by the powerful in order to have the control over new technologies, would you ever become public? I don´t think so!

[OuterTech]

It's not illegal if you or anyone in this world want to create a new cryptocurrency but it'll be a big problem if your own cryptocurrency will be able to harm to a lot of old things like Bank system. Beside Bitcoin is being used like a tool for criminal activity. Bitcoin is the big problem for bank system all over the world that why Satoshi is trying to keep his identity anonymous. If anyone know the real identity of Satoshi, I think anyone will try to find him and force him to destroy Bitcoin and crypto world

[bones261]

It's not illegal if you or anyone in this world want to create a new cryptocurrency but it'll be a big problem if your own cryptocurrency will be able to harm to a lot of old things like Bank system. Beside Bitcoin is being used like a tool for criminal activity. Bitcoin is the big problem for bank system all over the world that why Satoshi is trying to keep his identity anonymous. If anyone know the real identity of Satoshi, I think anyone will try to find him and force him to destroy Bitcoin and crypto world

First of all, cash is also being used for criminal activity. Far more cash than Bitcoin. Also, every transaction on the Bitcoin blockchain is distributed and stored on thousands of computers. If the authorities found Satoshi, Satoshi himself couldn't destroy Bitcoin. The authorities would have to somehow block the thousands of Bitcoin nodes from communicating with each other. I am sure there is a countermeasure for any measure the authorities will take.  Yes, the authorities could make it really difficulty, but Bitcoin is antifragile. Bitcoin is the Honey Badger and the Honey Badger don't give a shit.

[detector]

Current coin developer did not need to cover like Satoshi's because they just copy the code and make another alternative algorithm.
Also different country have their own policy against bitcoin as for my country, they still not legalize it but I can still use it with my own risk

[thelma987]

Well, checking through Satoshi Nakamoto's profile we see that most things pertaining to him seems hidden, and we are almost tempted to refer to him as a ghost there by making him look like a criminal and bitcoin like illegal. But this currency has actually easies he flow of cash around the world lately, and this is actually bringing balance to the financial system of the world, his guy has helped in a good way, helping shouldn't be termed as illegal, so people who are creating more cryptocoins shouldn't be seen as criminals, they are equally helping to by doing what they know how to do best. Now it depends on your country if the laws say it is legal or illegal, I am really baffled by countries that te against it, dont they see that the financial struggles are been eased via the creation of these cryptocoins?