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Can I create my own currency?
YOU are your own currency. Now, most people don't want to create their own currency. It could even be argued that Google search terms are a currency denominated in other currencies. It all really depends on what the currency is expected to do, how you will create demand for it and how it will be used.
Is it legal to create a currency?
It's perfectly legal to create your own currency in the US. There are quite a few community currencies already in existence. They are considered legal as long as they are not used to avoid taxes and can be exchanged for US dollars (Private currency). Historically, banks would print their own banknotes.
Can you create your own currency?
Simply put, you cannot create the money and then sit back and expect people to use it. Instead, you'll need to keep going out there, talking to businesses and helping them get the people they trade with to accept it. “It is relatively easy to launch a local currency,” says Sunderland.
Is making your own money illegal?
A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. For example, cryptocurrency is legal as an asset in the United States, but is illegal as a currency as it's not legal tender.
Can states create their own currency?
States seek currencies made of silver and gold. Unlike individual communities, which are allowed to create their own currency -- as long as it is easily distinguishable from U.S. dollars -- the Constitution bans states from printing their own paper money or issuing their own currency.
Is it a crime to print money?
Color printers, scanners and copiers make it surprisingly easy to replicate U.S. or foreign currency. But it is illegal to print your own money, even if all you want to do is make play money for the kids.
How do you make your own currency?
Start a Transition Initiative. Organize an open meeting on a topic related to money. Identify and engage your stakeholders. Set up a management team. Decide on the model. Launch a design competition. Decide on your legal structure. Generate start-up funding.
Is it illegal to create a currency?
Under 18 U.S. § 486, it's a criminal offense to make or pass any metal coins “intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design.” If true, it is arguably illegal for you to make your own currency and set it free upon the world.
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