Sentences with phrase «considered legal tender»
Notably, the token will be considered legal tender «for various government and non-government services, from their daily coffee and children's school fee to utility charges and money transfers.»
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According to Yonhap News, Lee Ju - yeol, the banks governor, refuted the notion that cryptocurrency should be considered legal tender.
Indeed, in Belarus, the government has legalized the used of cryptocurrencies and they are considered legal tender.
Virtual currencies aren't considered legal tender and banks are banned from holding and distributing them.
It is a store of value and a medium of exchange, but it is not considered legal tender in any U.S. jurisdiction.
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.
Not exact matches
She asked them to consider a safe harbor for virtual currency startups, and to consider only regulating exchanges that change so - called fiat currencies — or legal tender that's not backed by physical commodities like gold — into virtual ones.
«The Government does not consider cryptocurrencies as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system.»
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.
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.
For small business owners contemplating adding alternative payment solutions to their menu of legal tender, consider these tips: Don't be intimidated Just because the payment solution you're offering is not the tried - and - true standard exemplified by cash or credit, that doesn't mean its implementation will be difficult.
The press release indicates that Bitt Inc.'s software is capable of minting immutable DXCDs, and that with the ECCB's blessing, these digital tokens would be considered «legal tender» across the ECCU.
«The Government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto - assets in financing illegitimate activities or as part of the payment system.»
«The government does not consider crypto - currencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system,» Jaitley said.
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.
When you have folks like the [Bank of England], which did a [proof of concept] with us, as well as the Bank of Japan coming out and saying, we are considering this as legal tender at some point — when you see those developments, you can't help but feel that we are on the right path, that interest is going to continue to grow,» Vias said.
India has said it doesn't consider Bitcoin to be legal tender, China is increasingly cracking down on digital currencies, while Korea is planning a bill to ban all domestic cryptocurrency trading.
The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains.
«The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system,» Jaitley told parliament in his annual budget speech.
As of now Finance Mininster Shri Arun Jaitley mentioned in his Union Budget Speech 2018 that «Cryptocurrencies are not considered as legal tender in India ``.
The final resolution about Bitcoin being considered as legal tender was passed on April 2017.
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.
Prime Minister Narendra Modi announced in late 2016 a «demonetization policy» in which the Rs 500 and Rs 1000 notes would no longer be considered «legal tender» as of November 9, 2016.
in late 2016 a «demonetization policy» in which the Rs 500 and Rs 1000 notes would no longer be considered «legal tender» as of November 9, 2016.
As on date, Ukraine is still considered to be optimistic with the ongoing fintech shift in the global economy, however, it still doesn't consider cryptocurrencies as legal tender.
In India, where crypto - mania has been relatively subdued, the government has said it doesn't consider digital currencies to be legal tender and will take measures to curb their use.
«The government does not consider cryptocurrencies 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,» Jaitley told parliament while presenting the annual budget.
«The Government does not consider cryptocurrencies as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system.»
«The Government does not consider cryptocurrencies legal tender or coin and will take measures to eliminate use of these crypto - assets in financing illegitimate activities or as part of the payment system.
Finance Minister Arun Jaitley just told lawmakers that «the government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto - assets in financing illegitimate activities or as part of the payment system.»
The South African Reserve Bank (SARB) has given indications that it might soon consider bitcoin as legal tender in the country.
To make things worse for an already volatile market, India's finance minister Arun Jaitley, also said that the country's government «does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto assets in financing illegitimate activities or as part of the payment system.»
«The government does not consider cryptocurrencies legal tender or coin, and will take all measures to curb the use of these crypto - assets in financing illegitimate activities or any part of payment systems,» Finance Minister Arun Jaitley said in his speech in New Deli.
Still, the central bank stressed that Tuesday's release doesn't represent any kind of endorsement from them - nor does it mean that officials are moving to consider cryptocurrencies a form of legal tender in Malaysia.
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.
Jaitley, who was ostensibly presenting the Union Budget, took time to state that the government does not consider cryptocurrencies to be legal tender and that regulators will take «all measures» to eliminate their use in criminal activities.
The CryptoRuble will be considered a currency of legal tender in Russia.
«The Government does not consider cryptocurrencies legal tender or coin and will take measures to eliminate use of these crypto - assets in financing legitimate activities or as part of the payment system.
South Africa has joined a growing list of countries that expect citizens to pay income tax on their cryptocurrency earnings.The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains.
Early in February 2018, Indian Finance Minister Arun Jaitley stated that the government does not consider cryptocurrencies as legal tender and will take all measures to eliminate payments used to fund nefarious activities in the country.
In the South Asian country of India, where crypto - mania has been relatively somber and hushed, the government has announced that it doesn't consider digital currencies to be legal tender and will take measures to curb their use.
Singapore's Deputy Prime Minister Tharman Shanmugaratnam recently confirmed that cryptocurrency is not considered «legal tender» in the country.
Some countries that allow or tolerate cryptocurrencies have chosen to treat them as foreign currencies, sometimes with the status of legal tender; while others have denied them currency status but consider them valuable property.
Portugal's Central Bank Director Hélder Rosalino said that he didn't consider cryptocurrency a currency or legal tender and hinted that the Central Bank of Portugal has a similar position.
For example, India doesn't consider Bitcoin to be legal tender, China is increasingly cracking down on digital currencies, while Korea is planning a bill to ban all domestic cryptocurrency trading.
The Bank of Korea (BOK)-- after stating that it did not consider cryptocurrency as legal tender «began evaluating it alongside the Bank of International Settlements» according to governor Lee Ju - yeol.