Sentences with phrase «as legal tender by»

Meanwhile, Russian Finance Minister Alexey Moiseev told Bloomberg that Russia hopes to recognize cryptocurrencies like Bitcoin as legal tender by 2018.

is not recognized as legal tender by the US government.»

The law defines «virtual currencies» as any type of digital representation of value that is used as a medium of exchange, unit of account or store of value, and is not recognized as legal tender by the United States government.

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.»

Not exact matches

«The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto - assets in financing illegitimate activities or as part of the payment system,» Arun Jaitley told lawmakers in New Delhi, according to a transcript by The Hindu newspaper.

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.»

Venezuela's president just officially made it «legal tender,» meaning it can be used the same way as cash and is accepted as payment by the government.

A gift of virtual currency, such as bitcoin, to charity or a donor - advised fund is not recognized by the IRS as legal tender.

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.

As well, only legal - tender coins produced by the Royal Canadian Mint are eligible for RRSP gold investing.

As well, only legal - tender coins produced by the Royal Canadian Mint are RRSP - eligible.

As well, only legal - tender bullion coins produced by the Royal Canadian Mint are RRSP - eligible.

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.

Many pieces in the collection are not in fact legal tender, yet they function as a means of payment in their mutual acceptance by exchanging parties.

A slight digression: it was interesting to read in the Legal Action Group's (LAG's) Austerity Justice book that the coalition government dropped plans to introduce competitive tendering because, as LAG director Steve Hynes tells it, Ken Clarke was persuaded by «his old colleagues at the criminal bar».

Hogeg plans to do this by issuing a new cryptocurrency and selling some of it to investors in exchange for legal tender or other cryptocurrencies, such as Bitcoin.

Official legislation only acknowledges notes and coins issued by the Bank of Canada as legal tender, which automatically excludes digital currency.

No token, bill, virtual currency, or counterfeit money, whose purpose it is to parody legal tender or otherwise serve as a novelty, and where such can be demonstrated beyond a reasonable doubt, shall be subject to taxation, regulation, or licensing by any branch of government, but shall instead enjoy free and unrestricted exchange.

By not recognising cryptocurrencies as legal tender in India simply means that digital currencies like Bitcoin, Ethereum, etc can not be used to buy / sell goods and services.

Although Bitcoin is referred to as a «currency», it is not issued by a monetary authority and does not have the legal tender status of a currency, so it is not at all money in the true sense.

By 2017, the currency is recognised as legal tender in Japan and Russia, as well as noting a 600 % increase in online traders using the currency.

As reported by CCN, Portugal's central bank, Bank of Portugal, has in the past stated that bitcoin has no legal tender in the country, nor a central authority controlling it.

Ken Research in its latest study, Global Cryptocurrency Market by Market Capitalization of Major Cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Monero, NEM and Others), by Mining Facilities and by Use of Bitcoin — Outlook to 2022, suggested that demand for cryptocurrency in the market will grow manifold in the future years albeit with restrictive government policies to consider the digital currencies as a legal tender.

According to local publication ZeeBiz, Jaitley refuted bitcoin's acceptance as legal tender in the country while pointing to a similar stance taken by India's central bank over the years.

India does not regard Bitcoin as legal tender, China is cracking down on digital currencies, while Korea is planning a bill that would ban all cryptocurrency trading in the country, as pointed out by The Verge.

It was the first major economy to bestow legitimacy on virtual currencies, by recognising Bitcoin and other virtual currencies as legal tender in April of 2017.

``... 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.»

A number of central banks are seriously studying whether digital currencies backed by global central banks can be used as a legal tender such as the Indian central bank.

As bitcoin struggles to find its place as a legal tender for business transactions in many countries, director and registrar of the Reserve Bank of Zimbabwe, Zimbabwe's Central Bank, Norman Mataruka has raised more doubts about the cryptocurrency's authenticity in the country by an official statement released earlier this weeAs bitcoin struggles to find its place as a legal tender for business transactions in many countries, director and registrar of the Reserve Bank of Zimbabwe, Zimbabwe's Central Bank, Norman Mataruka has raised more doubts about the cryptocurrency's authenticity in the country by an official statement released earlier this weeas a legal tender for business transactions in many countries, director and registrar of the Reserve Bank of Zimbabwe, Zimbabwe's Central Bank, Norman Mataruka has raised more doubts about the cryptocurrency's authenticity in the country by an official statement released earlier this week.

As Arun Jaitley, the finance minister of India, has announced bitcoin and other cryptocurrencies are not legal tender in the country by comparing them to a Ponzi scheme.