Sentences with phrase «being legal tender as»

It said that extrapolating meaning of an asset not being legal tender as illegal is irresponsible.

Not exact matches

Intended only as a collector's item, the digital coins won't be issued with a view to entering into circulation and can't be used as legal tender, the bank said.

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.

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.

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.

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

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.»

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.»

Russia previously revealed that its central bank was developing a national cryptocurrency and that it would not recognize others like bitcoin as legal tender.

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.&raquis 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.&raquIs 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.&raquIs not recognized as legal tender by the United States government.»

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).

This is a natural response from governments to a new medium of exchange, which could end up competing with their own legal tender, commodities and other assets as a store of value and alternative method... Read more»

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.

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.

«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.

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.

[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.

The dollar is accepted as legal tender throughout the world.

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.

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

Also acceptable are minimum.9995 fine platinum legal tender bullion coins such as the Australian Koala, Canadian Maple Leaf, Isle of Man Cat, and Isle of Man Noble.

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 asseAs 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 asseas 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 asseas well as an investment asseas 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.»

«It is not a stable source of value, and it doesn't constitute legal tender,» she told reporters at her last press conference as leader of the central bank.

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.

Russian president Vladimir Putin publicly said cryptocurrencies had «serious risks,» and yet he just called for the development of a new digital currency, the «cryptoruble,» which will be used as legal tender throughout the federation.

«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.»

-LSB-...] all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor.

May be not as specific, but no official legal tender coin is struck without a law approving it.

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

Weeks or months prior to the sale date, a list of tax sale properties is made public along with the property's legal description and the minimum tender amount (also known as the Cancellation Price).

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.

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.

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.

US banknotes are also accepted as legal tender, and Panamanians sometimes use the terms balboa / dollar interchangeably.

As there is no ATM here — there are card machines though — it seems that gold would be an appropriate legal form of tender.

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.

c) Unless the evidence of a lawyer is being tendered as expert testimony on the motion, it is not appropriate for an affidavit to contain legal opinions or argument.

It's going to discuss the outcome of the criminal legal aid tender as well as hearing from the director of Rights of Women about the domestic violence evidence criteria for legal aid.

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.

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».

This may not come as a surprise to those who have been following the family legal aid tender debacle.

International law firm Pinsent Masons has been appointed as lead legal adviser to Porton Biopharma Limited following a competitive tender process.

Adopting the U.S. dollar as the primary legal tender is colloquially known as «dollarization» - the practice generally is called currency substitution.