Quote from: botany on August 28, 2016, 12:43:05 AM

Quote from: Sharma on August 27, 2016, 09:10:25 AM

Quote from: botany on August 27, 2016, 02:44:01 AM

Quote from: Sharma on August 22, 2016, 10:07:58 AM

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?

There are thousands of alts, including ones in your country.
This forum has a sub-board for discussing alts in India. Grin

So unless you plan on creating a ponzi scheme/swindle scheme, you should have nothing to worry.

Dont worry I have no intention to create a ponzi or scam anyone.I just one to know its legal aspect of creating a parallel currency

Then you have nothing to worry.
There have been previous cases of alt currencies being developed with an Indian focus - Laxmi coin is an example
https://bitcointalk.org/index.php?topic=287485.0
There have been no cases/prosecution that I am aware of.

But i think you didnt notice that the dev of laxnicoin mitts.daki was based in USA.I am living in India and thats why I am concerned