Sentences with phrase «certain virtual currency service»
'' [In the US], financial regulators have already undertaken efforts at bringing certain virtual currency service providers - mainly the virtual currency exchanges - under the existing legal frameworks regarding money services business,» explains the report.
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Certain custodial or fiduciary services in which the property or assets under the custodian's control or under management include property or assets recognized as «virtual currency.»
State Financial Services Superintendent Ben Lawsky proposed the toughest restrictions on bitcoin companies to date, unveiling a plan that would require firms dealing in virtual currencies to hold certain levels of capital, hire compliance officers and obtain special licenses.
ICOs raise funds from the public using virtual currency (cryptocurrency) in exchange for their holders receiving proprietary coins or tokens related to a specific venture or project underlying the ICO, such as rights to profits, shares of assets, or rights to use certain services provided by the issuer or voting rights.
Cryptocurrency like bitcoin is held in virtual wallets and can be used to buy and sell certain goods and services just like other currencies.