Sentences with phrase «functioning as a virtual currency»
There's nothing better than images of collectible coins, stage props, miniatures, and professional models to convey the intricacies of a distributed, decentralized, encrypted digital asset functioning as a virtual currency.
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The banking giant anticipates its virtual currency, which will be sent and received via a mobile app, to function as a vehicle for near - instantaneous P2P money transfers and payments at affiliated stores, according to Japanese outlet Mainichi Newspaper.
The two announcements also acknowledge that «the function of digital tokens has evolved beyond a virtual currency» and point out use cases, such as representation of ownership or a security interest over a token seller's assets or property, or a debt owed by the seller.
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.»
According to the IRS, «Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and / or a store of value.
Virtual currency, as generally defined, is a digital representation of value that functions in the same manner as a country's traditional currency.
The IRS states that a «virtual currency... is a digital representation of value that functions in the same manner as a country's traditional currency.»
MAS is currently assessing how to regulate ML / TF risks associated with activities involving digital tokens that do not function solely as virtual currencies.
A virtual currency is one particular type of digital token, which typically functions as a medium of exchange, a unit of account or a store of value.
The Monetary Authority of Singapore (MAS) sees the difference between digital tokens, which it regards as a «cryptographically - secured representation of a token - holder's rights to receive a benefit or to perform specified functions,» and virtual currency, which the regulator describes as «one particular type of digital token, which typically functions as a medium of exchange, a unit of account or a store of value.»
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.»
It added that it currently was evaluating how it should regulate activities involving digital tokens, which did not function solely as virtual currencies, against money laundering and terrorist funding risks.
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.
Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and / or a store of value.
«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.