I got nothing.

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That's the second Krag pistol picture I've seen.

Nice find.

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Both pistols appear to use Norwegian Krag actions .... those rascally Scandinavians!

The silver one looks to be a mockup, but the black one looks real!

Isn't it illegal to take a rifle action and make it into a pistol?

Nothing specifically illegal about that. You don't want to make it into any NFA Class III item, though!

Selling hand guns or pistols has a different set of rules especially over state lines.

In my understanding, there are strict Federal - BATF regulations (and fees), that you Must Comply With to Manufacture a pistol from a rifle action with 'cut-down' barrel and stock.

Pistol ownership/regulations vary greatly from state to state.

Making a rifle into a pistol is a Federal matter and involves much paperwork and a big tax.

What you are describing involves moving into NFA territory with short barreled firearms and other weapons where there are specific regulations. There are many legal receivers that can be made into pistols such as AR lowers but they don't involve cutting barrels and fabrication of parts and altering receivers. There can be lots of bad juju there if you are outside of these legal boundries.

One difficulty for FFL dealers is having to be cautious selling or transferring a receiver over state lines that can be used, legally, to be made into a pistol. Many receivers are of multiple function or calibers. Transferring or selling a long arm to someone over state lines is legal but not a pistol or hand gun or a receiver that can be made into one.

It's safer NOT to alter anything or cut down barrels to shorter than allowed outside of legal changes. I have a Type 7 FFL that allows me to legally manufacture non-NFA items and the paperwork, as you stated, is somewhat involved. But, it's safer to stay on the right side of the law and not cut things into pistol size.

Of course, if someone does it and doesn't get caught, that's another thing. Just look at youtube and see what stupid people are doing in the suppressor line without a license. And, they are posting these actions on the internet!

I work in a gun shop, because some receivers can be used to make pistols, their sales have to comply with pistol sale laws, which vary from state to state. They are usually the serial numbered part of the gun, and require a transfer (background check).

But what if you used an antique receiver which is exempt from GCA 68?  No I'm not going to ask BATF, my experience with them is get hold of three different people, get three different opinions.

Man, they must throw heck-a flame out the muzzle when fired!

Why make one?  Just to show that you can?  Lots of potential trouble?  Recoil?  Could you even hang onto it?