Sentences with phrase «accepted legal currency»
Back in April, they made Bitcoin into a nationally accepted legal currency.
http://dailybitcoinnews.com/ Not exact matches
University of Nicosia in Cyprus announced today that it will accept the digital - only currency as legal tender for tuition and fees.
In order for bitcoin to be a real currency, Adeney claims, it must be three things: easy and frictionless for trading between people, widely accepted as a legal tender for all debts (both public and private) and stable in terms of value.
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.»
««Virtual currencies» means a digital representation of value that is neither issued by a central bank or a public authority, not attached to a legally established currency, which does not possess the legal status of currency or money, but is accepted by natural or legal persons as a means of exchange or for other purposes, and can be transferred, stored or traded electronically.
The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them.
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.
So, that is, accepting the digital currency today is completely legal; this means MonaCoin and other cryptos can be used as a medium of payment in businesses, stores, or restaurants.
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.»
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.
Legal tender technically just means that by law it can not be refused as a settlement of debt, so a store can accept any currency it likes — such as euros — if it decided to.
ASIC therefore does not guarantee, and accepts no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency or completeness of any data entered or assumptions inserted when using such Calculator.
«During the Middle Ages when the trade was monopolized by the Portuguese and later the Dutch, pepper was so valuable that it was worth more than gold by weight, and individual peppercorns were widely accepted as legal currency.»
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.
Rosalino also sighted some of the legal concerns associated with cryptocurrencies saying «it may not be possible to exchange a virtual currency for a currency accepted by regulators and central banks.»
In Japan, about 4,500 stores already accept bitcoin as payment, after the Japanese Diet allowed the use of bitcoin and other digital currencies as a legal method of payment.
The German authorities justified this decision by stating that all virtual currencies such as Bitcoin will be considered a legal method of payment as long as all parties involved in the transaction accept that that cryptocurrency will be used as a means of payment.
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«So - called virtual currencies (cryptocurrencies such as Bitcoin) are considered equal to the legal means of payment, as long as these so - called virtual currencies have been accepted as alternative and contractual means of payment by the parties involved in the transaction and have no other purpose than being used as a means of payment.»
«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.
This is the first nation to officially adopt a cryptocurrency as a legal tender that will be accepted along the native US Dollar currency.
Many central banks have officially accepted it as a legal currency.
In India, Finance Minister Arun Jaitley's clear statement that digital currencies would not be accepted as legal tender in the country helped throw a wet blanket on cryptocurrency enthusiasm in the country — which has served as a FUD (Fear, Uncertainty, and Doubt) hotspot at times.
«Bitcoin fans argue that it qualifies as a currency under these criteria: most importantly, it's something that parties can agree to accept as legal tender and a store of value.
Soaring Bitcoin demand in Venezuela; Kazakhstan warming toward bitcoin as currency in free fall; Moscow exploring blockchain voting; Legal Identity for all, can bitcoin blockchain rise to the challenge; Blockpay lets merchants accept 8 major cryptocurrencies at zero cost; Big banks band together to introduce «settlement coin»; South Africa Reserve bank open to blockchain and cryptocurrency; Bank of Japan Governor says Blockchain could alter financial services...
Soaring Bitcoin demand in Venezuela; Kazakhstan warming toward bitcoin as currency in free fall; Moscow exploring blockchain voting; Legal Identity for all, can bitcoin blockchain rise to the challenge; Blockpay lets merchants accept 8 major cryptocurrencies at zero cost; Big banks band together to introduce «settlement coin»; South Africa Reserve bank open to blockchain and cryptocurrency; Bank of Japan Governor says Blockchain could alter financial services... Collect Your Free PDF — The Bitcoin Believers Business Manifesto Please leave your comments...