Is it Legal to Sell Large Amounts of Premined Cryptocurrency?

Yes. There is no legally binding document that prevents two people from engaging in the voluntary trade of assets for a price, as long as taxes are paid.

Bitcoin underwent a similar situation.Majority of Bitcoin was premined by Satoshi Nakamoto and a couple of other miners that got early into the Bitcoin game.

The identity of Satoshi Nakamoto is unknown, but however other miners have been known to have sold or burned their coins if they aren’t accessible to them anymore.

Unlike stock, where founders may have vested interests and government exercises control over the behavior of internal trading, Cryptocurrencies aren’t regulated to such an extent. Withholding of information to mislead or sell cryptocurrency with a false promise might lead to litigation but selling cryptocurrency for a price without any implicit promises can’t be held against you in the court of Law.

Similar to how certain countries do not acknowledge electronic documents in the court of law as evidence, no country except maybe Estonia has the legal framework setup to deal with a situation as such.

Rest assured, you cannot be held liable for selling a commodity having followed all the regulating laws that govern trade.

Here’s a video that shows you how to make your very own Altcoin.



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