Sentences with phrase «defined as a digital currency»
Bitcoin: I no longer think it can be defined as a digital currency, but instead as a digital asset we can use to increase the value of our money.
https://bitsofproof.com/ Not exact matches
The bill defines virtual currency as «a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account, or a store of value but does not have legal tender status as recognized by the United States government.»
Since bitcoin is the world's largest cryptocurrency and because it employs the suffix «coin,» I will define a coin as a digital asset that functions as a currency.
The country defines digital currency as Value Records, referring to electromagnetic records with certain values.
The bank points out that digital currencies should not be confused with electronic money, as defined by Brazilian legislation.
Today, however, is the time to celebrate an historical, defining and monumental event in the digital currency space and perhaps the wider world as blockchain tech was advanced just a bit further, showing its full potential to improve the world while addressing the other edge of any tool that man has made.
In November 2016, the IDFPR published its request for comments on its proposed «Digital Currency Regulatory Guidance,» which defined digital currencies as «an electronic medium of exchange used to purchase goods and services.Digital Currency Regulatory Guidance,» which defined digital currencies as «an electronic medium of exchange used to purchase goods and services.digital currencies as «an electronic medium of exchange used to purchase goods and services.»
The proposal defines «virtual currencies» as a digital representation of value that can be digitally transferred, stored or traded and accepted by natural or legal persons as a medium of exchange, but does not have legal tender status.
Entitlements include but are not limited to paid and free downloadable content; unlockable content; digital content, including additional or enhanced functionality, content subscriptions; virtual assets; rights of use tied to unlock keys or codes, serial codes and / or online authentication of any kind; in - game achievements; virtual points, coins, or currencies (each individually or collectively defined as ``
Entitlements include but are not limited to paid and free downloadable content; unlockable content; digital content, including additional or enhanced functionality, content subscriptions; virtual assets; rights of use tied to unlock keys or codes, serial codes and / or online authentication of any kind; in - game achievements; virtual points, coins, or currencies (each individually or collectively defined as «Dragon Foundry Virtual Currency»).
Furthermore, they stated that digital currency is not defined as a financial product compared to traditional currencies.
The new law defines virtual currencies as «asset - like values,» allowing digital money to be used not only to buy goods and services but also as an alternative for legal tender through purchases and trades.
Bitcoin is defined as the first decentralized digital currency, as the system works without a central repository or single administrator.
Often called simply a «digital currency,» bitcoin is best viewed as a protocol (a set of code) that delivers data (in this case bitcoins) in defined quantities (called blocks) that are then stored in a sequence (called a blockchain) on a distributed set of global computers.
Virtual currency, as generally defined, is a digital representation of value that functions in the same manner as a country's traditional currency.
The law defines «virtual currencies» as any type of digital representation of value that is used as a medium of exchange, unit of account or store of value, and is not recognized as legal tender by the United States government.
Often called simply a «digital currency,» bitcoin is best viewed as a protocol (a set of code) that delivers data (in this case bitcoins) in defined quantities (called blocks) that are then stored in a sequence (called a blockchain).
We define «supporting» a digital currency as giving our customers the ability to send, receive, store and in supported countries buy and sell it with local currency.
We define «supporting» a digital currency as giving our customers the ability to send, receive, store and in
A private digital currency, monero can be defined as a secure, private, and untraceable cryptocurrency.
A fork is defined as a «change to the software of the digital currency the creates two separate versions of the blockchain with a share history.
The bank said in its update: «These regulations do not cover «virtual currency» which is defined as any type of digital unit used as a medium of exchange, unit account, or a form of stored value.»
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.»
The IRS states that «Virtual currency, as generally defined, is a digital representation of value that functions in the same manner as a country's traditional currency.»
The header of the Bitcoin white paper defines the digital currency as «A Peer - to - Peer Electronic Cash System.»
The SFC said it has sent letters to seven cryptocurrency exchanges in Hong Kong OR with connections to Hong Kong telling them not to trade in digital currencies which are securities as defined under existing securities law.
Senate Bill 1241 defines digital currencies as «monetary instruments» and digital exchanges / tumblers as «financial institutions» for purposes of enforcing anti-money laundering laws.
More comprehensive definitions have been attempted by the EBA in 2014 (European Banking Association) and the Banca d'Italia, which both define Bitcoin as «a digital representation of value that is neither issued by a central bank or public authority nor necessarily attached to a fiat currency, but is used by natural or legal persons as a means of exchange and can be transferred, stored or traded electronically».
The 2012 ECB report defined virtual currency as «a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community».
The IRS notes that Notice 2014 - 21 defines digital currencies as property, and they are thus subject to federal property taxes.
Even more, many platforms for swapping digital currencies for cash or other cryptocurrencies fall under the «exchange» umbrella as defined by federal securities laws.