Sentences with phrase «be legal tender in»

Many virtual currencies are trying to dislodge the British pound but «only sterling is legal tender in the UK,» Carney said in another March speech.

«Only sterling is legal tender in the UK,» according to Carney (pictured above).

Since Panama does not print its own paper currency, the U.S. dollar is legal tender in Panama.

The decision to propose traceable activity within India's domestic exchanges follows a statement from the country's Finance Minister from earlier this month, in which he said that cryptocurrencies aren't legal tender there (to be clear, no currency except the Indian Rupee is a legal tender in the country), and that there will be a crackdown on the use of virtual currencies in financing illegitimate activities.

Although cryptocurrencies are legal tender in Japan, Coincheck is not registered with the country's Financial Service Authority, raising concerns over whether the lost funds will be insured if the tokens can not be retrieved.

Not exact matches

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 valuIn 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 valuin terms of value.

Sweden could eventually «reach a situation where legal tender is no longer an efficient medium of exchange for commercial transactions and that it is a situation that no other country has been in before,» Skingsley said.

The RBI move is in line with the government's stance that cryptocurrencies are not legal tender and is also in sync with greater regulatory scrutiny by central banks of several other countries including the US, Japan, China and South Korea.

In Japan, Bitcoin has been recognized as legal tender, and financial regulators have officially recognized multiple cryptocurrency exchange operators.

«Virtual currency is easier to trace, allowing the central bank to monitor its velocity and the whereabouts of the money and improve its monetary policies accordingly,» added Qian, calling digital legal tender the «jewel in [the] crown of FinTech.»

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.»

In September 2017, Fan Yifei, deputy governor of the PBoC, wrote that PBoC efforts to supervise private cryptocurrency and develop digital legal tender were underway.

So Bitcoin gets none of the benefits of being a currency in the state of New Jersey, but all of the downside of being «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.

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.

Last April, Japanese authorities acknowledged bitcoin as a legal tender and stated that they would entail cryptocurrency exchanges to register with the Government.There are 16 cryptocurrency exchanges in Japan which have registered with Japan's Financial Services Agency (FSA).

Since bitcoin is not yet considered legal tender in Germany, employers using PEY will be able to offer bitcoin as a tax - free benefit to their employees.

However, bitcoin can not be placed in the same category since it is not legal tender and has very few uses outside its trading zone, thereby making investors holding the currency that has zero value extremely vulnerable to potential risks.

On February 25, 1862, the Greenbacks were made legal tender for all public and private debts, replacing the Treasury notes that had been redeemable in coin since 1812.

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.

As is known, virtual currencies, also known as cryptocurrencies, are becoming or have already become very popular; in certain countries they are becoming or have already become legal tender, as well as an investment asset.

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 IAMAI panel statement said that every citizen and business in this country should play their role in eliminating financing of illegitimate activities, regardless of whether such financing is done using legal tender, cryptocurrency, gold, or any other medium.

I can't imagine that you deliberately ran over the remote control car, nor is paying in legal tender (regardless of the denomination) an offensive thing to do.

«The CBN reiterates that the VCs such as bitcoin, ripples, monero, litecoin, dogecion, onecoin, etc and similar products are not legal tenders in Nigeria, thus any bank or institution that transacts in such businesses does so as its own risk.»

In a circular dated January 12, 2017, the apex bank told the DMBs and other financial institutions that the digital currencies were not legal tenders in NigeriIn a circular dated January 12, 2017, the apex bank told the DMBs and other financial institutions that the digital currencies were not legal tenders in Nigeriin Nigeria.

«Mr Douglas Carswell (Clacton)(Con): I beg to move, That leave be given to bring in a Bill to amend the Currency and Banknotes Act 1954 to allow banknotes in addition to those issued by the Bank of England to be legal tender; and for connected purposes.

- featuring celebrated journalist and writer Robert MacNeil in his first public television documentary The old «round pound» has ceased to be legal tender - here's what to do if you have any left

However, they are not legal tender and may not be accepted in many places.

In most countries cryptocurrencies are not recognised as legal tender and are only regulated to the extent that they fit within existing laws, such as tax laws.

In fact, confusingly there are no legal tender notes in Scotland - Bank of England notes are only legal tender in England and WaleIn fact, confusingly there are no legal tender notes in Scotland - Bank of England notes are only legal tender in England and Walein Scotland - Bank of England notes are only legal tender in England and Walein England and Wales.

Scottish bank notes aren't legal tender... even in Scotland.

In fact, the return of capital via a tender offer should also provide further reassurance: Shareholders could be unfairly penalised if they accepted a tender offer based on incomplete info, and / or an NAV per share that did not represent market values for all assets (& liabilities)-- potentially exposing the board / company to legal action.

Treasury notes had full legal tender status and were not convertible into gold through the Bank; they replaced the gold coin in circulation to prevent a run on sterling and to enable raw material purchases for armament production.

A new # 1 coin, dubbed the most secure coin in the world, has become legal tender in Britain today, but it won't be in full circulation for a few weeks.

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.

Many important elements of policy support for renewable energy are common across all regions and incomes, including renewable energy targets and action plans, primary legislation and legal private ownership of generation, and financial and regulatory incentives like feed - in tariffs or competitive tenders.

The proposals, if implemented, will have the effect that many migrants and prisoners will no longer be eligible for legal aid; access to judicial review will be restricted; contracts for criminal work will be the subject of competitive tendering; and fees paid to legal aid solicitors and barristers will be reduced, by more than 50 % in some instances.

In relation to the outcome of the tender process, this was been pushed back until 15th October, although in the last day there has been news of a whistleblower within the Legal Aid Agency telling the Law Society Gazette that the tendering process was a «shambles» and that bids were not assessed fairlIn relation to the outcome of the tender process, this was been pushed back until 15th October, although in the last day there has been news of a whistleblower within the Legal Aid Agency telling the Law Society Gazette that the tendering process was a «shambles» and that bids were not assessed fairlin the last day there has been news of a whistleblower within the Legal Aid Agency telling the Law Society Gazette that the tendering process was a «shambles» and that bids were not assessed fairly.

In October 2015, the Legal Aid Agency considered all the tenders that had been submitted for criminal legal aid duty contrLegal Aid Agency considered all the tenders that had been submitted for criminal legal aid duty contrlegal aid duty contracts.

Plans to introduce best value tendering (BVT) for criminal defence services in October have been scrapped by the Legal Services Commission (LSC) following fierce opposition from stakeholders.

However, tendering a written argument at the hearing is neither an alternative to, nor a substitute for, setting out the «Legal Basis» in a notice of application or an application response in accordance with what the Rules and the case law require.

For the Legal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between fLegal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between flegal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between firms.

According to Potter there was «strong evidence of inconsistencies in how the tender applications were marked for the same firms in different areas» (March 2016, Legal Action, p 4).

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».

Two pilots in best value tendering and the introduction of Crown Court Means Testing early next year will be vital in our efforts to keep on top of the criminal legal aid budget.

A survey by family law group Resolution of 561 firms revealed that 40 % have been wholly unsuccessful in their competitive tendering bids to provide family legal aid, while 15 % were only partially successful.

The lawyers advise that currently many SMEs are effectively barred from tendering for contracts, worth up to # 12 million, due to not having in - house legal resources to support a tender plus costs of employing external lawyers.

A consultation on the principles of best value tendering (BVT) for criminal defence services, and a policy paper — Assuring and Improving Quality in the Reformed Legal Aid System — have been published by the Legal Services Commission (LSC).