Sentences with phrase «accepted as a medium of exchange»

FinCEN's regulations define currency (also referred to as «real» currency) as «the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance.»

The FINCEN definition of currency: The coin and paper money of the United States or any other country that is (1) designated as legal tender and that (2) circulates and (3) is customarily accepted as a medium of exchange in the country of issuance.»

While virtual currencies do not have legal tender status in any jurisdiction, they operate like «real» currency in that they are accepted as a medium of exchange.

2 stating «Bitcoin and other virtual currencies are distinct from «real» currencies, which are the coin and paper money of the United States or another country that are designated as legal tender, circulate, and are customarily used and accepted as a medium of exchange in the country of issuance.»

In light of this consensus as to the term's ordinary meaning, the Court concludes that «funds,» for the purposes of § 1960, means pecuniary resources, which are generally accepted as a medium of exchange or a means of payment.

In some environments, it operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currency.

«In some environments, virtual currency operates like «real» currency - i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance - but it does not have legal tender status in any jurisdiction.

In some environments, virtual currency operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction.

Not exact matches

Until one or more cryptocurrencies are accepted as legal and practical tender, cryptocurrency is no medium of exchange; it's a classic object of speculation.

Cryptocurrencies are neither official South African tender nor widely used and accepted in South Africa as a medium of payment or exchange.

The proposal defines «virtual currencies» as a digital representation of value that can be digitally transferred, stored or traded and accepted by natural or legal persons as a medium of exchange, but does not have legal tender status.

Once people agreed to accept money as the medium of exchange, the accumulation of property was in principle without any moral limit.

His central thesis relies on the basic premise of ANY medium of exchange: it only works as long as people will accept it for goods and services.

«Since the absence of knowledge about the source or prior use of ZEC is generally accepted as a feature of the ZCash Network, the costs of accepting all ZEC are the same,» Beck states, adding that this property is «necessary in order for [a currency] to become a liquid medium of exchange.»