Sentences with phrase «considered as a virtual currency»

«We don't consider that Bitcoin can be considered as a virtual currency.

Not exact matches

At a news conference, the commissioner of the SEC, Emilio Aquino, indicated that the commission is inclined to consider «so - called virtual currencies offerings as possible securities, in which case we will apply the Securities Regulation Code.»

The draft also allows for a bit of flexibility; provisional registrants are defined as those who register with their states to conduct virtual currency business but do not conduct business in such great volume as to be licensed, nor a low enough volume to be considered exempt.

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.

If you have successfully mined bitcoin or other virtual currencies, the IRS considers the receipt of that currency as gross income and should be included in your tax return as such.

As a reminder, the IRS issued an announcement last month that reiterated what it said back in 2014, namely, that cryptocurrency is considered property and that any sort of sale of virtual currency should be logged as a capital gain or losAs a reminder, the IRS issued an announcement last month that reiterated what it said back in 2014, namely, that cryptocurrency is considered property and that any sort of sale of virtual currency should be logged as a capital gain or losas a capital gain or loss.

While acknowledging that the virtual offerings such as Bitcoin currently pose little or no challenge to the existing order of fiat currencies and central banks, the IMF chief considers the underlying volatility and riskiness of cryptocurrencies as technological challenges to be addressed over time.

That's a comeback from a day earlier, when the price of the virtual currency dropped to as low as $ 4,140 following the news that officials are considering shutting down bitcoin exchanges.

Speaking to the Financial Times, Mastercard executive Ari Sarker says that the company is «very happy» to consider helping the use of cryptocurrencies, but only as long as those virtual currencies are issued by central banks.

Virtual currencies, such as Bitcoin, Ripple, etc. are not considered to be a currency issued by a government of a country, such as U.S. dollars, and as a result, the CRA treats them as a commodity for tax purposes.

Investing in virtual currencies is considered highly speculative, as values can fluctuate significantly over short periods of time.

This may lead virtual currencies to be considered reliable enough to be used as collateral within capital markets.

Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks.

«We're considering Bitcoin futures which investors and institutional investors can use to hedge against Bitcoin or set against falling prices in the virtual currency,» the publication quotes her as saying.

As reported by CoinDesk last month, New Hampshire's HB 436 seeks to create a regulatory exception for persons «using transactions conducted in whole or in part in virtual currency» who may otherwise be considered money transmitters under current laws.

Overall, the public statements aimed to serve as a reminder to citizens who may be considering the digital currency as an investment, and both quoted a government circular released in 2013 saying that bitcoin is a virtual good and doesn't have legal tender status.

However irrespective of the advanced banking structure in the Indian subcontinent its contemporary market of virtual currencies have not shown signs of significant improvement for being considered as a premier payment tool.

The German authorities justified this decision by stating that all virtual currencies such as Bitcoin will be considered a legal method of payment as long as all parties involved in the transaction accept that that cryptocurrency will be used as a means of payment.

Canada was one of the first countries to draw up what could be considered «bitcoin legislation,» with the passage of Bill C - 31 in 2014, which designated «virtual currency businesses» as «money service businesses,» compelling them to comply with anti-money laundering and know - your - client requirements.

«As we consider how we want to approach virtual currency, we have closely followed regulatory developments in New York and elsewhere,» a spokesperson told CoinDesk.

A principal regulator of Philippines recently announced that, «The direction is for us to consider this so - called virtual currencies offerings as possible securities in which case we will apply the Securities Regulation Code.»

«So - called virtual currencies (cryptocurrencies such as Bitcoin) are considered equal to the legal means of payment, as long as these so - called virtual currencies have been accepted as alternative and contractual means of payment by the parties involved in the transaction and have no other purpose than being used as a means of payment.»

Under the regulations, individuals who convert their virtual currencies into fiat currencies will be considered as reporting institutions and will be subjected to Malaysia's Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act of 2001.

In March 2013, the Internal Revenue Service considered virtual currency as property liable to federal taxation and ruled that professional miners are subject to the self - employment tax.

«We are actively considering ways to prohibit transactions on domestic exchanges by judging virtual currency trading as a deceptive means of defrauding people -LSB-...] under the penal code,» the publication quotes an official as saying.

Furthermore, the term «cryptocurrency,» according to stipulations, includes anything which is considered to be a «convertible virtual currency» having an equivalent in real currency or it acts as a substitute of the same.

On the 12th of February Business Korea quoted an official from the government ministry participating in a virtual currency task force who said: «We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies.

The provision by Russian legal entities of services for exchanging «virtual currencies» for rubles and foreign currency, as well as for goods (work, services) is considered as a potential involvement in the implementation of questionable transactions in accordance with the legislation on combating the legislation (laundering) of proceeds from crime, and the financing of terrorism,» reads the statement.

It can also be seen as the result of recent events in which government bodies were reportedly considering measures to halt what they called an «overheating of virtual currency speculation.»

The court further explained that cases wherein virtual currencies are gained as criminal profit, any confiscation should only be considered by calculating the corresponding amount of the criminal proceeds, rather than confiscating the virtual currency altogether.

«The public is hereby warned that such investment schemes whether with the use of money or virtual currencies such as bitcoin, ethereum, ripple, dash, litecoin, monero, SIBcoin, mooncoin and many others are considered as securities subject to the regulatory authority of this Commission.»