Sentences with phrase «functions as a medium of exchange»

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.

Ether, the digital asset used on the Ethereum blockchain, functions as a medium of exchange, or «coin,» but also qualifies as a token and even a security.

He appealed to the teaching of Jesus, who, he suggested, decried the idolization of money, but not its function as a medium of exchange.

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.

Notably, the first bill defines «virtual coin» as «a digital representation of value that can be digitally traded and that functions as a medium of exchange, unit of account and store of value.»

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.

Collectible: Something with aesthetic value but no cash flows, and no function as a medium of exchange.

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.»

In general, the major outliers widely function as mediums of exchange and stores of value.

``... 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.»

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.

Not exact matches

In this analogy the age of Bitcoin's blockchain is similar to the thousands of years of recorded history where gold functioned not only as a store of wealth but also a real medium of exchange.

Besides the traditional functions of money (store of value, medium of exchange, unit of account), international exchange rates give a new dimension to currencies with several different ways of profiting from them (with the risk of losing money as well).

The Rock Token (RKT) is the currency of choice for transactions, listings and a multitude of functions, serving as the medium of exchange and the utility coin that powers the GBX - GSX ecosystem.

Just last week, during testimony before the US Congress, SEC Chairman Jay Clayton said cryptocurrencies such as Bitcoin, which function exclusively as mediums of exchange, are not securities, unlike ICO tokens, which are.

His 1875 work, «Money and the Mechanism of Exchange,» defines the four functions of a currency: as a medium of exchange, a measure of value (or unit of account), a standard of deferred payment, and a store oExchange,» defines the four functions of a currency: as a medium of exchange, a measure of value (or unit of account), a standard of deferred payment, and a store oexchange, a measure of value (or unit of account), a standard of deferred payment, and a store of value.

Havven will offer a digital method of payment that fulfils the same three functions that traditional forms of money and asset - ownership do: act as a unit of account, a medium of exchange, and as a store of value, states the company.

However, the truth is that most of the coins do not function as a currency or medium of exchange, in fact, coins are cryptocurrencies that are treated like commodities because they are not used as currencies.

The first function of a currency is to serve as a stable medium of exchange, and experience today with various crypto assets in circulation are not at all satisfactory in this regard.