Sentences with phrase «cryptocurrencies are legal tender»

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.

«Cryptocurrencies are no legal tender and the government discourages its use.

Included in this category are questions such as whether cryptocurrencies are legal tender, or how to regulate decentralized applications.

Not exact matches

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.

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.

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.

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

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).

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.

The Judgment C - 264 / 14 declared that bitcoin and cryptocurrencies are VAT exempt as currency, although not legal tender.

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.

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.

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.

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.

The Indian government is unlikely to criminalize the holding and trading of cryptocurrencies, especially now that world leaders such as Japan and Germany have already embraced their use as legal tender, with the United States only recently announcing the launch of bitcoin futures in November 2017.

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.

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 Indian Finance minister had earlier declared that the cryptocurrency is not a legal tender.

In January 2018, India's Finance Minister Arun Jaitley told the Indian parliament, «Bitcoins or such cryptocurrencies are not legal tender and those indulging in such transactions are doing it at their own risk.»

the Indian parliament, «Bitcoins or such cryptocurrencies are not legal tender and those indulging in such transactions are doing it at their own risk.»

In Japan, Bitcoin is already treated as legal tender, while Russia is currently drafting legislation to regulate cryptocurrencies and ICOs.

The Republic of the Marshall Islands (RMI), an island country located near the equator in the Pacific Ocean with a population of about 50,000, is poised to become the first sovereign nation to issue a cryptocurrency that will be legal tender.

Regulators are not just concerned with the blurring lines between trades of traditional legal tender and cryptocurrency, but also the outpouring of investment into ICOs, alt coins, and funds away from IPOs and traditional investments.

Therefore, if the RMI will eventually deploy a cryptocurrency that is also legal tender, the impact could be huge.

Regulators in India have repeatedly targeted cryptocurrency exchanges and commented that bitcoin and digital currencies are not «legal tender.»

On Nov. 30, 2017, when investor frenzy was at a high with rising bitcoin prices, finance minister Arun Jaitley said the country doesn't recognise cryptocurrencies as legal tender.

In an ICO a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin.

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 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.

In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.

Bank of Japan Governor Haruhiko Kuroda said on Tuesday cryptocurrencies likely won't threaten legal tenders like the yen any time soon as they are mostly used for speculative trading, rather than as payments and settlement means.

By not recognising cryptocurrencies as legal tender in India simply means that digital currencies like Bitcoin, Ethereum, etc can not be used to buy / sell goods and services.

Elsewhere in the notice, the Ministry emphasized that India doesn't recognize any cryptocurrency as a legal tender and that no license is issued in the country to authorize any cryptocurrency exchange.

It said while it has taken notice of recent developments in the use, holding, and trading of virtual or digital currencies (also known as cryptocurrencies), such as Bitcoin in Ghana, it is not legal tender and it is not regulated.

The lead cryptocurrency researcher at the People's Bank of China has said it is «crucial» to issue digital legal tender as soon as possible.

On January 2, 2018, Finance Minister Arun Jaitley answered questions before Indian parliament, in which he stated that «bitcoins or such cryptocurrencies are not legal tender and those indulging in such transactions are doing it at their own risk.»

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.

questions before Indian parliament, in which he stated that «bitcoins or such cryptocurrencies are not legal tender and those indulging in such transactions are doing it at their own risk.»

Kalra's point is an oft - repeated one in the industry, that excluding cryptocurrencies as «legal tender» doesn't necessarily make their trade and usage illegal.

The future of cryptocurrency in the system lies partly on how well it is integrated and accepted in the society as a legal tender.

A further distinction needs to be made between regulation of the cryptocurrency itself (is it a commodity or a currency, is it legal tender?)

cryptocurrencies to be «legal tender,» excluding all but Canadian bank notes and coins from that definition.

The Marshall Islands is set to release its own cryptocurrency called the Sovereign after the Parliament voted to approve an official cryptocurrency as legal tender, a move that could end its reliance on the US Dollar as its official currency.

This week saw officials in India indicate that they will be introducing regulations to completely eliminate payments with cryptocurrency in their country, and they made it official that India does not recognize Bitcoin as a legal tender.

He also added that cryptocurrencies can not be branded as a legal tender and that the government shall «strongly respond to excessive cryptocurrency speculation and illegal activity.»

The German finance ministry said it will not levy taxes on cryptocurrencies if they are used as legal tender.

His speech echoed the fact that Indian government does in no way recognise Cryptocurrencies such as Bitcoin same as a legal tender but is equally welcoming towards the spread of blockchain technology for pioneering payment gateways.

He once said in 2013 that, he likes the fact that cryptocurrencies are freely available to all people, although they will not be accepted as legal tender in China, at least not anytime soon.

Indeed, in Belarus, the government has legalized the used of cryptocurrencies and they are considered legal tender.