Post
Topic
Board Legal
Re: Would it be legal to create new crypto?
by
judeafante
on 06/10/2019, 01:15:56 UTC
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 already said that Cryptocurrency is illegal in your country, and if they have a law that prohibits and punishing for creating a Cryptocurrency, you will be punish according to the law that governs where you reside, better check your law before you start something like this, you can create a utility token but not sell but you need approval first.
It's either you migrate to another country or wait for the government to ease up with their regulations.