Would it be legal in the US for a business to effectively create their own currency in which all of their products must be bought? Anyone who wanted to buy anything would exchange the USD to the store currency. There would be no exchange fee.

Yes. This would be legal, but then again, IANAL (I am not a lawyer). If you replace the word ‘currency’ here with the word ‘store-credits’ or ‘loyalty-points’ the whole scenario doesn’t look so bad after all. The condition here would be that the issuer of this currency, i.e. you, can issue the currency (as much […]

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