Sentences with phrase «function as a means of payment»

Many pieces in the collection are not in fact legal tender, yet they function as a means of payment in their mutual acceptance by exchanging parties.

«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.

Not exact matches

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.

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.