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