Sentences with phrase «legal currency»

The government's position is clear, we don't recognize this as legal currency as of now.

«The government's position is clear, we don't recognize this as legal currency as of now,» he said at the time.

The statement also noted that «virtual currency is not legal currency and nobody guarantees [its] value.»

Making this change would also mean leaning on countries like Japan, that began accepting bitcoin as legal currency in April, to reverse or add new restrictions to that move.

Japan in particular actually formally recognized Bitcoin as legal currency which explains the rise of Bitcoin in that country, although Korea's surge is not as easily explained.

«Any so - called tokens financing trading platform shall not engage in the exchange of legal currency and tokens, «virtual currency», and may not be traded or sold as a central counterparty to sell tokens or «virtual currency,» the bank states.

Back in April, they made Bitcoin into a nationally accepted legal currency.

Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law.

It is not contractually backed by assets or legal currency laws, it is not controlled by a central authority and it is not a tangible good.

The far - right politician reportedly wants France to dump the euro and adopt a new version of the French franc, which hasn't been used as legal currency since 2002.

Legislation making bitcoin and virtual currencies legal currency took effect this month in Japan.

The document emphasizes the status of the ruble as «the only legal currency in the Russian Federation».

The Monetary Authority of Macau reminds all Macau residents that cryptocurrencies are virtual products, but not legal currencies or financial tools.

With this in mind, it seems like a committee was constituted by the Reserve Bank, and put in charge to study digital currency, and decide whether bitcoin is fit to be recognized as an official, legal currency in the country.

Salt has been recognized as a precious commodity throughout human history, even serving as a form of legal currency.

«During the Middle Ages when the trade was monopolized by the Portuguese and later the Dutch, pepper was so valuable that it was worth more than gold by weight, and individual peppercorns were widely accepted as legal currency.»

The PUD overreacted with its moratorium on new power requests, perhaps based on fear of the unknown — and, despite Japan's thinking of recognizing bitcoin as a legal currency, it remains a bit mysterious to most people.

«Cars» are not a legal currency, but if I steal yours I am committing theft, and if I tamper with the odometer to sell you one that is worth less than I've claimed then I am committing fraud.

@Cat, I'm not a lawyer or anything like that, but why does it matter whether it is a legal currency or not?

In Japan, established cryptocurrencies are recognised officially as legal currencies and they have also endorsed 11 different cryptocurrency exchanges.

They are a legal currency defined by the UK Parliament, and perfectly acceptable for transactions across the UK.

With two legal currencies, minimal internet access, and divisions between those who can and can't access external resources, the residents of Cuba have become experts at negotiating the complexities of exchange between each other and the world.

A number of countries have declared Bitcoin as a legal currency, including Japan and South Korea.

«People gained a lot of confidence in bitcoin as a legal currency,» said Yuzo Kano, the founder and chief executive officer of BitFlyer Inc., a Tokyo - based bitcoin exchange backed by big Japanese banks.

According to Reuters, Lee Ju - yeol, governor of Bank of Korea said in a news conference on Thursday that while cryptocurrency so far is not a legal currency, the bank has been involved in researching a central bank - issued cryptocurrency.

«Digital tokens like bitcoin, ethereum that are stateless, do not have sovereign endorsement, a qualified issuing body or a country's trust, are not legal currencies and should not be spoken of as digital currencies,» he said.

Lee was recently quoted as saying, «Regulation (for virtual currencies) is appropriate because it is regarded as a commodity, not at the level of legal currency,» during the government audit conducted by the country's legislative body National Assembly.He also added that, «It is not a situation for the Bank of Korea to take such an action at the present.»

In addition, Bank of Korea Governor Lee Ju - yeol said at a news conference that «cryptocurrency is not a legal currency and is not being used as such as of now.»

While Japan has been one of the first in the world to recognize cryptocurrency as a legal currency, the nascent industry still needs more regulations put in place.

Queensland - based gold and silver bullion dealer Paul Engeman has started trading Bitcoin, following the move by the federal government of Australia to authorize it as a legal currency.

Now here the question is arising that why Reliance JIO is planning to launch its own cryptocurrency, when Indian government and RBI already said that, they don't recognize the cryptocurrency as a legal currency.

This will encourage other player, so it will interest to see what Indian government will do, will our government stay with their decision or declare cryptocurrency as a legal currency.

In a separate news conference yesterday, Korea's central bank governor reportedly added: «cryptocurrency is not a legal currency and is not being used as such as of now.»

On the other hand, they've just made bitcoin a legal currency for savings and transactions.

Earlier this year in April, Japan passed a long discussed law that recognizes Bitcoin and other cryptocurrencies as means of payment that «are not legal currency», as Japan's Payment Services Act reads.

Ki - joon said in a briefing last month that cryptocurrencies, like Bitcoin, weren't a legal currency and the government «would strongly respond to excessive cryptocurrency speculation and illegal activity,» according to WSJ.

Countries like the U.S., the U.K., Japan, Germany, Canada, Finland, and Estonia officially accept it as a legal currency, regulate it, and some even tax its use, just like ordinary fiat currency.

The analyst states that bitcoin «is not welcome by the legal currency market, unless there is sufficient means and ability to control... If any country can manage bitcoin freely, bitcoin will become the nuclear weapon of a new currency war.

The release further points to an earlier 2014 analysis by the agency, which stated that bitcoin is neither regulated nor a legal currency.

As at the date of this announcement, any so - called tokens financing trading platform shall not engage in the exchange of legal currency and tokens, «virtual currency», and may not be traded or sold as a central counterparty to sell tokens or «virtual currency» Not for the tokens or «virtual currency» to provide pricing, information services and other services.

For example, BTC in New Zealand is not regulated and not seen as legal currency and is not subjected to tax.

From this point of view, the legal digital currency or help to improve the value of the legal currency stability.»

Leading economies like the US, Japan and South Korea have already recognized Bitcoin as a legal currency and store of value, providing regulations to cryptocurrency exchanges, businesses and investors.