Sentences with phrase «declared legal tender»
There is no «Bitland» where a government has declared it legal tender to buy goods and services and pay taxes.
http://www.baltimoresun.com/
Fiat money is government - issued currency that is declared legal tender but is not backed by a physical commodity.
Not exact matches
All accept dollars because the U.S. government declares those to be «legal tender for all debts public and private.»
Given that Japan declared cryptocurrencies as legal tender, the picture remains dubious.
The Judgment C - 264 / 14 declared that bitcoin and cryptocurrencies are VAT exempt as currency, although not legal tender.
In April 2017 the government declared that bitcoin was officially accepted as a legal tender.
The Indian Finance minister had earlier declared that the cryptocurrency is not a legal tender.
Japan have eliminated the consumption tax on Bitcoin trading on April 1,2017 when it officially declared Bitcoin as a legal tender.
After allegedly declaring bitcoin illegal, the Bank of Thailand issued a backtracking statement in 2014, clarifying that it is not legal tender (but not technically illegal), and warning of the risks.
Fiat currency is currency that a government has declared to be legal tender.
Without any significant warning, the Indian government declared that 500 rupee and 1,000 rupee notes would no longer be accepted as legal tender.
«The purpose of this Act is to declare and issue a digital decentralized currency based on blockchain technology as legal tender of the Republic of Marshall Islands,» reads the bill, posted in the Sovereign's official Telegram channel.
The government of Germany has declared that bitcoin will be regarded the same way as the country's legal tender when used as a medium of payment.