Thanks guys for your support and encouraging words. I am based in India. I am studying laws about it here.
I have got various degrees of reviews about its legality. Hired lawyer who will get me the exact status about it.
I am working on it but I will launch this only if its legal and I am able to get it registered in country.
KYC norms etc. will all be followed and respected.

Also thanks and respect for the coders who are offering me support .
Cheers.