Sentences with phrase «known as virtual currency»

Defendants used the lure of quick riches from a twenty - first century payment system known as virtual currency to defraud investors.

«Defendants used the lure of quick riches from a twenty - first century payment system known as virtual currency to defraud investors.

«There is therefore no government mechanism to guarantee the value of currency instruments known as virtual currencies,» the bank said.

Cryptocurrencies, also known as virtual currencies or digital currencies, are a form of electronic money.

Not exact matches

Known as a self - proclaimed geek who said he was uncomfortable in his native France and hadn't been back in years, Karpeles became interested in bitcoin when a customer of his web - hosting services wanted to pay in the virtual currency.

The price of bitcoin, the world's most well - known virtual currency, lost almost one fifth of its value to $ 15,800 this week after peaking as high as $ 19,666 on Sunday, as feverish demand ebbed slightly after the exchange giant CME Group and its rival Cboe Global Markets listed bitcoin futures.

Like other virtual currencies, such as Ethereum and Ripple, bitcoin has no central authority and relies instead on thousands of computers across the world that validate transactions and add new units to the system - technology known as blockchain.

In the latest blow — on Tuesday — an alternative virtual currency, known as Tether, that is owned and operated by the same people as Bitfinex, announced that it had been hacked and lost around $ 30 million (U.S.) worth of digital tokens.

On April 12, on the other side of the body of water known alternatively as the East Sea and the Sea of Japan, 16 cryptocurrency exchanges announced plans for a self - regulatory body called the Japan Virtual Currency Exchange Association.

The first person or business to solve a group of transactions, known as a «block,» is given a «block reward,» which is paid out in the tokens of the virtual currency being validated.

It is literally a network of users — known as «peers» — who simply decide to buy and sell goods and services through a mode of virtual currency.

He said most virtual currencies have public ledgers which, when combined with know - your - customer guidelines, could serve as anti-money laundering controls.

After being celebrated by some as the future of money in a digital age, the virtual «peer - to - peer crypto currency» known as Bitcoin has taken some serious hits in the past week or so.

Centralized virtual currencies like Facebook Credits, Amazon Coins etc. have an administrator and a central repository, whereas decentralized virtual currencies do not have either, and every transaction is registered in a public ledger known as a block chain.

The attackers appear to be focusing on anyone who talks on social media about owning virtual currencies or anyone who is known to invest in virtual currency companies, such as venture capitalists.

Similarly, earlier this week, Bank Indonesia expressed that virtual currencies, including bitcoin, are no longer recognized as a legitimate form of payment and are forbidden for use in all financial transactions.

As is known, virtual currencies, also known as cryptocurrencies, are becoming or have already become very popular; in certain countries they are becoming or have already become legal tender, as well as an investment asseAs is known, virtual currencies, also known as cryptocurrencies, are becoming or have already become very popular; in certain countries they are becoming or have already become legal tender, as well as an investment asseas cryptocurrencies, are becoming or have already become very popular; in certain countries they are becoming or have already become legal tender, as well as an investment asseas well as an investment asseas an investment asset.

In fact, an Internal Revenue Service (IRS) loophole known as the «like - kind exchange,» which had allowed crypto investors to sell one virtual currency and put that money to work in other digital tokens (a like - kind exchange) allowed investors to completely avoid taxation as a result of technicality.

The company, known as Bitfarms, says it's earning more than $ 250,000 a day from minting Bitcoin, other virtual currencies and fees at four sites in the province.

Formerly known as Darkcoin, or Xcoin, Dash is an open - form of peer - to - peer virtual currency that was originally introduced in 2014.

Framed for murder, Keane and Fowler must outwit warlords, outmaneuver a reclusive billionaire, and stay a step ahead of the police while they gradually uncover the truth about the virtual currency known as iotas.

Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks.

Southeast Asian central bank, Bank Indonesia, warned in January that virtual currencies, including bitcoin, were no longer recognized as a legitimate form of payment and forbidden for use in all financial transactions.

In Japan, a large virtual currency exchange, Coincheck, was hacked in late January and lost nearly $ 500 million worth of a virtual currency known as NEM, raising questions about the relatively untested security practices of virtual currency exchanges.

Identifying the fraud as «old scam, new technology,» the CFTC cautioned, ``... same basic fraud is now occurring using little - known virtual currencies and digital coins or tokens.»

This week, the decentralized cryptocurrency marketplace was gearing up for its Token Sale, also known as an initial coin offering (ICO), in order to give thousands of users the chance to use their ethereum (ETH) to invest in virtual currency - related projects and products.

It said while it has taken notice of recent developments in the use, holding, and trading of virtual or digital currencies (also known as cryptocurrencies), such as Bitcoin in Ghana, it is not legal tender and it is not regulated.

He is also known as «Bitcoin Jesus» after giving thousands of coins of the virtual currency away for free.

Known as a self - proclaimed geek who said he was uncomfortable in his native France and hadn't been back in years, Karpeles became interested in bitcoin when a customer of his web - hosting services wanted to pay in the virtual currency.

Canada was one of the first countries to draw up what could be considered «bitcoin legislation,» with the passage of Bill C - 31 in 2014, which designated «virtual currency businesses» as «money service businesses,» compelling them to comply with anti-money laundering and know - your - client requirements.

Bitcoin Cash made its debut in early August and is the result of a cadre of bitcoin developers» demands for a version of the popular cryptocurrency that allows virtual miners, which support the currency, to more rapidly process transactions in larger units known as blocks.

Cryptocurrency — also known as digital currency, virtual currency, coins, or tokens — is a type of electronic payment.

Similarly, South East Asia's Bank Indonesia declared that virtual currencies, including bitcoin, were no longer recognized as a legitimate form of payment and are forbidden for use in all financial transactions.

Similarly, earlier this week, Bank Indonesia expressed that virtual currencies, including bitcoin, are no longer recognized as a legitimate form of payment and are forbidden for use in all financial transactions.

Morehead added that Kik ran an in - app virtual currency, which was known as Kik Points, for three years, so the company already has experience with similar technology.

«As virtual currency systems develop, it will be imperative to law enforcement interests that those systems comply with applicable anti-money laundering statutes and know - your - customer controls.»

Southeast Asian central bank, Bank Indonesia, has warned that virtual currencies, including bitcoin, are no longer recognized as a legitimate form of payment and are forbidden for use in all financial transactions.

Issued last month, the FinCEN guidance requires intermediaries that handle virtual currency to register as money services businesses and to follow reporting and record - keeping regulations under the Bank Secrecy Act (BSA), including know - your - customer (KYC) and anti-money laundering (AML) requirements.

Those who have heard of «blockchain» technology generally know it as the underpinning of the Bitcoin virtual currency, but there are...

Roger known as the «Bitcoin Jesus» for his tireless evangelism of the virtual currency was born and lived in Silicon Valley (USA).

Jeff Francis · April 3, 2018 · 8:00 pm Paxful knows that Bitcoin in Africa is making a difference, as is evident by a South African business school now accepting the virtual currency for tuition....

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against «a virtual currency know as My Big Coin (MBC).»

Bitcoin, currently known as the dominant virtual currency, features encryption techniques used to regulate the generation of units of currency, verify the transfer of the funds and operate independently.

«We know that a range of virtual currencies including bitcoin are used as payment methods to facilitate illicit trade on the darknet.