Cryptocurrency Q&A
Is it legal to mint your own coins?
Is it legal to mint your own coins?
JamesBrown
Tue Aug 13 2024
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7
answers
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Is it actually permissible under the law to create and issue your own coins? I've heard of people creating their own cryptocurrencies, but is there any legal framework or guidelines that govern the minting of physical coins? Could there be any potential legal implications or restrictions that one should be aware of before embarking on such an endeavor? It would be greatly appreciated if you could provide some clarity on this matter.
7 answers
MountFujiVista
Thu Aug 15 2024
The United States Constitution and federal law form the bedrock of the nation's monetary system.
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CryptoChieftainGuard
Thu Aug 15 2024
Congress, as the legislative body, has a pivotal role in shaping this system.
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Raffaele
Thu Aug 15 2024
One of its key decisions was to designate the United States Mint as the sole authority for producing coins.
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SumoPowerful
Thu Aug 15 2024
This designation ensures that all coins minted in the US are genuine and carry the full faith and credit of the government.
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CryptoNerd
Wed Aug 14 2024
The US Mint produces a wide range of coins, from pennies to quarters to commemorative pieces.
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