Sentences with phrase «as legal currency»

For example, BTC in New Zealand is not regulated and not seen as legal currency and is not subjected to tax.

«The government's position is clear, we don't recognize this as legal currency as of now,» he said at the time.

While the government stresses that it doesn't recognize Bitcoin as legal currency and the tax authority seeks to collect taxes from cryptocurrency investors (and penalize them in some cases), the Reserve Bank of India (RBI) is becoming increasingly positive towards the crypto economy, a source familiar with the situation told Cryptonews.com.

Many central banks have officially accepted it as a legal currency.

The government's position is clear, we don't recognize this as legal currency as of now.

This will encourage other player, so it will interest to see what Indian government will do, will our government stay with their decision or declare cryptocurrency as a legal currency.

Now here the question is arising that why Reliance JIO is planning to launch its own cryptocurrency, when Indian government and RBI already said that, they don't recognize the cryptocurrency as a legal currency.

The State Bank of Vietnam recently affirmed its viewpoint on not recognizing virtual currencies, including bitcoin, as a legal currency and payment instrument in Vietnam.»

Queensland - based gold and silver bullion dealer Paul Engeman has started trading Bitcoin, following the move by the federal government of Australia to authorize it as a legal currency.

Japan in particular actually formally recognized Bitcoin as legal currency which explains the rise of Bitcoin in that country, although Korea's surge is not as easily explained.

While Japan has been one of the first in the world to recognize cryptocurrency as a legal currency, the nascent industry still needs more regulations put in place.

A number of countries have declared Bitcoin as a legal currency, including Japan and South Korea.

«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.»

The far - right politician reportedly wants France to dump the euro and adopt a new version of the French franc, which hasn't been used as legal currency since 2002.

Not exact matches

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

For the platinum coin idea to work, the Federal Reserve would have to treat it as a legal way for the Treasury Department to create currency.

University of Nicosia in Cyprus announced today that it will accept the digital - only currency as legal tender for tuition and fees.

«Payments made with virtual currencies are not only irreversible,» the report continues, «they also do not have the same legal protections as most traditional payment methods, such as the ones you have when using a credit card.»

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.

After plunging to a record low of 15.95 to the U.S. dollar on September 25, the Argentine peso clawed its way back to 8.5525 on Monday as a crackdown on trading, a bond sale and a currency swap with China curbed transactions in both the legal and underground currency markets.

Being at war is worse for a currency than not being at war, whether you're fighting the world's financial authorities for legal validity, or engaged in a guerrilla skirmish as either aggressor or victim.

It makes note that virtual currencies are not issued through a monetary authority and, as such, lack the characteristics of legal tender, so they can not be circulated as currency.

It gained currency in large part as a result of an unusual decision Mr. Bollea's legal team made: It purposely excluded a claim that would have allowed Gawker's insurance company to help pay for its defense as well as damages.

Bitcoin got an unexpected endorsement this week - federal authorities signaled they view the digital currency as a legal means of exchange and legitimate payment alternative.

«From the date of release of this Notice, any so - called platform that provide trading and exchange services for coin offering shall not engage in exchange businesses between legal tender and token or «virtual currency»; or engage in proprietary trading activities or trading as an central counterparty of tokens or «virtual currencies»; or provide pricing services or act as information intermediary for tokens or «virtual currencies.»»

The bill defines virtual currency as «a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account, or a store of value but does not have legal tender status as recognized by the United States government.»

The company would have to file a notice with the regulatory department; pay a registration fee of $ 250; provide evidence of registration with FinCEN as a money services business; agree to not invest or pledge virtual currency in its custody or control on behalf of others or to engage in the exchange or transfer of legal tender; and prove its policies for reporting, disclosures, and compliance.

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.»

Backers of the petro could be viewed as extending a line of credit to the Venezuelan government, said a spokesperson who went on to state, «The Venezuelan petro currency could therefore expose US persons to legal risk.»

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.»

««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.

With virtual currency gaining traction among investors, Finance Minister Arun Jaitley today said India does not recognise cryptocurrency as legal tender.

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.»

The watchdog based its decision on the fact that it does not consider digital currencies to be a substitute for money, as they are not legal tender in the country.

Not only this, but the regulatory agency has also stated that in the country of Columbia, the only medium of exchange that is deemed as legal consists of the country's fiat currency, issued by the Bank of the Republic.

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.

The confidence in Bitcoin may break as a result of unexpected changes such as: unfavorable legal regulations, banning electronic legal tenders, introducing the prohibition on trading in virtual currency in specific areas, imposing high taxes, creating competitive alternative currencies, deflation, and other factors which may significantly affect the shaping of the exchange rate of Bitcoin against other currencies.

With this in mind, it seems like a committee was constituted by the Reserve Bank, and put in charge to study digital currency, and decide whether bitcoin is fit to be recognized as an official, legal currency in the country.

Finance minister going all out against Bitcoin and other cryptocurrencies is definitely a reason for grave concern for the Indian cryptocurrency investors as he said that the government does not consider these virtual currencies as a legal tender.

Besides legal tenders such as Dollar, Ruble, Euro, RMB, and virtual currencies such as Bitcoin, Litecoin, LNC also can be exchanged with indirect currencies such as gold, silver and valuable financial derivatives.

The Judgment C - 264 / 14 declared that bitcoin and cryptocurrencies are VAT exempt as currency, although not legal tender.

And it notes the European Central Bank's (ECB) report «Virtual Currency Schemes» (October 2012) worrying that «virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activitiesCurrency Schemes» (October 2012) worrying that «virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activitiescurrency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activities.»

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.

This course looks at the origin and function of Bitcoin, Bitcoin as an investment or as a day - to - day consumer currency, the legal treatment of Bitcoin, and regulating Bitcoin trading.

«We will only process fiat currency - based transactions,» he said, referring to currencies that are issued by governments as legal money, such as the U.S. dollar.

On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are «a currency or a form of money» (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction, [274][274] and Germany's Finance Ministry subsumed bitcoins under the term «unit of account» — a financial instrument — though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.

«As part of the new Regulations, an official joint announcement will be released during the upcoming PBOC press conference making it clear that neither the People's Bank of China nor the Hong Kong Monetary Authority recognises Bitcoin or any other virtual currency as legal tender, thus, making its use as an official currency to settle debts and financial obligations illegaAs part of the new Regulations, an official joint announcement will be released during the upcoming PBOC press conference making it clear that neither the People's Bank of China nor the Hong Kong Monetary Authority recognises Bitcoin or any other virtual currency as legal tender, thus, making its use as an official currency to settle debts and financial obligations illegaas legal tender, thus, making its use as an official currency to settle debts and financial obligations illegaas an official currency to settle debts and financial obligations illegal.

This specifically extends to «miners» of the bitcoin currency who may have to register as MSBs and abide by the legal requirements of being a money transmitter if they sell their generated bitcoins for national currency and are within the United States.

[65] It classified digital currencies and other digital payment systems such as bitcoin as «virtual currencies» because they are not legal tender under any sovereign jurisdiction.

On 5 December 2013, the People's Bank of China announced in a press release regarding bitcoin regulation that whilst individuals in China are permitted to freely trade and exchange bitcoins as a commodity, it is prohibited for Chinese financial banks to operate using bitcoins or for bitcoins to be used as legal tender currency, and that entities dealing with bitcoins must track and report suspicious activity to prevent money laundering.