Sentences with phrase «currency as a mean of payment»

In the coming year, we could see how this currency could keep growing if more stores accept this currency as a means of payment.

In principle, this is possible because non-euro members Montenegro and Kosovo are also using the single currency as a means of payment.

After the release of the updated decree on the government gazette, those who operate with cryptocurrencies at a commercial or professional level in Italy, including sellers who accept digital currencies as means of payment, must send a certified email to the Ministry of Economy and Finance.

Not many people understand that you can use digital currency as a mean of payment, an investment and a technology.

Therefore, the issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited,» Vietnam Biz conveyed.

The central bank confirmed that mining rigs for bitcoin and other cryptocurrencies are «not related to the use of virtual currency as a means of payment.»

Not exact matches

True to its origins as an open, decentralized currency, bitcoin is meant to be a quicker, cheaper, and more reliable form of payment than money tied to individual countries.

What's more, even new, alternative currencies, as well as presumably anonymous means of payment like the Internet currency Bitcoin, rank among the targets of the American spies.

Other executives, including International Monetary Fund chief Christine Lagarde, say virtual currencies should not be dismissed and could have useful applications, such as a means of payment in countries with unstable currencies.

Bitcoin got an unexpected endorsement this week - federal authorities signaled they view the digital currency as a legal means of exchange and legitimate payment alternative.

Virtual currencies, he argued, are valued as highly as they are because of the «oxygen provided by the connection to standard means of payments and trading apps that link users to conventional bank accounts.»

While this might sound somewhat similar to Bitcoin, there are major differences between the two, the main one being that Bitcoin is a decentralised currency — a store of value and a means of payment — whereas Ripple focuses on a single use case: sending money as fast as information.

So, that is, accepting the digital currency today is completely legal; this means MonaCoin and other cryptos can be used as a medium of payment in businesses, stores, or restaurants.

Even where accepted, a currency whose value can swing 10 percent or more in a single day is useless as a means of payment.

The internal currency of the ecosystem is an ERC - 20 compliant Streamity token (STM), which will be used as a means of payment for all the services offered by the project.

However, inherent risks such as contingent liability (where your liability may be greater than the initial purchase price of the investment), margining requirements (where you are required to make a series of payments against the purchase price, depending on whether the underlying investment or index is moving in your favour) and international exchanges (which can mean a reduced level of investor protection, as well as currency fluctuation if the investment is not traded in sterling) meant these were out of reach.

Even where accepted, a currency whose value can swing 10 percent or more in a single day is useless as a means of payment.

Eligible Transaction means any purchase excluding (but not limited to) Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, bank fees and charges such as interest and ATM charges and government related transactions.

Where a Member State is in difficulties or is seriously threatened with difficulties as regards its balance of payments either as a result of an overall disequilibrium in its balance of payments, or as a result of the type of currency at its disposal, and where such difficulties are liable in particular to jeopardise the functioning of the common market or the progressive implementation of the common commercial policy, the Commission shall immediately investigate the position of the State in question and the action which, making use of all the means at its disposal, that State has taken or may take in accordance with the provisions of this Treaty.

For starters, the volatility of the currency has led to some legitimate companies refusing to accept it as a means of payment — meaning that they're off - limits to those who only want to pay with cryptocurrency.

The long - awaited bill, which goes into effect on April 1, still does not recognize bitcoin as a currency, but it has accepted that bitcoin and other cryptocurrencies have «asset - like values» that can be used «as payment to indefinite parties for the cost of purchase or rent of items or receipt of services and which can be transferred by means of electronic data processing systems,» explained Bitflyer exchange.

While this might sound somewhat similar to Bitcoin, there are major differences between the two, the main one being that Bitcoin is a decentralised currency — a store of value and a means of payment — whereas Ripple focuses on a single use case: sending money as fast as information.

While bitcoin merchant adoption is still next to none in India, the new currency reform and the subsequent push toward digital payments will give bitcoin a boost as a means of making online payments.

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.

As the first instance of ZenCash being used as a direct means of payment, without the need for conversion into another cryptocurrency or fiat currency, we believe that this is a critical step forward in making Zen more widely and easily accessible to a broader user basAs the first instance of ZenCash being used as a direct means of payment, without the need for conversion into another cryptocurrency or fiat currency, we believe that this is a critical step forward in making Zen more widely and easily accessible to a broader user basas a direct means of payment, without the need for conversion into another cryptocurrency or fiat currency, we believe that this is a critical step forward in making Zen more widely and easily accessible to a broader user base.

You will still be able to use it as a store of wealth, sell it for local currency — or other digital currencies — based on the relevant exchange rate (s), send it to other Bitcoin wallets, and use it as a means of payment all around the world.

«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.»

Digital currencies are defined in the document as «convertible virtual currencies, including crypto - currencies or similar concepts where the concept is accepted by persons as a means of payment for goods or services, a unit of account, a store of value or a commodity.»

These laws came into effect on April 1 2017, along with the Payment Services Act recognizing cryptocurrencies as a means of payment, granting them the same legal status as any other cuPayment Services Act recognizing cryptocurrencies as a means of payment, granting them the same legal status as any other cupayment, granting them the same legal status as any other currency.

Earlier this year in April, Japan passed a long discussed law that recognizes Bitcoin and other cryptocurrencies as means of payment that «are not legal currency», as Japan's Payment Services Actpayment that «are not legal currency», as Japan's Payment Services ActPayment Services Act reads.

For instance, Japan's revised Payment Services Act, enforced in April 2017, defines cryptocurrencies or «virtual currencies» as a means of payment with proprietaryPayment Services Act, enforced in April 2017, defines cryptocurrencies or «virtual currencies» as a means of payment with proprietarypayment with proprietary value.

If it is used as a means of payment, it would be treated like a currency, converted to fiat at its fair market value as disclosed on a cryptocurrency exchange and taxed as ordinary income.

A payment processor for cryptocurrency means that it is a company that will help retailers accept payment cards or other payment methods of cryptocurrency (such as from a mobile wallet that scans a QR code) and then immediately or quickly deposited in their account an equivalent amount of the local fiat currency.

Cryptocurrencies are digital currencies that can be used as a means of payment.

It is also because of this latter, latent characteristic, that developers have spawned other virtual currencies that function exclusively as a speedy means of payment.

Will cryptocurrencies replace traditional fiat currencies as a viable means of payment?

This collaboration means that DMarket Token will be accepted as one of the core gaming crypto payment currencies on Xsolla and will become one of Xsolla's more than 700 payment options offered to gamers.

It «affirms that virtual currency including bitcoin is not recognized as a valid payment instrument, so it is prohibited to be used as a means of payment in Indonesia.»

«Virtual currency is currently unable to function as a means of payment and it is being used for illegal purposes like money laundering, scams and fraudulent investor operations.