Sentences with phrase «legal tender back»

Bitcoin's Rising Popularity in Japan Japan has been on the cutting edge of Bitcoin infrastructure ever since the digital currency was recognized as legal tender back in April.

Japan has been on the cutting edge of Bitcoin infrastructure ever since the digital currency was recognized as legal tender back in April.

Not exact matches

She asked them to consider a safe harbor for virtual currency startups, and to consider only regulating exchanges that change so - called fiat currencies — or legal tender that's not backed by physical commodities like gold — into virtual ones.

Fiat money is government - issued currency that is declared legal tender but is not backed by a physical commodity.

The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them.

They may not be legal tender yet, but they're also not backed by any sort of physical commodity.

The definition of «fiat money» is a currency that is legal tender but not backed by a physical commodity.

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.

The Risk Alert Notice further stated that «[i] n the case of Lianke issued by Xunlei... the issuing company in effect substitutes Lianke for the duty to pay back project contributors with legal tender, making it essentially a financing activity and a form of disguised ICO.»

Digital currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections;

These reserves serve two functions, 1) as backing for the interbank settlements system and 2) to buy cash (legal tender money / currency) from the Fed.

«Douglas Carswell introduces his bill to make different currencies legal tender Main The senior Tories who backed Dorries / Field yesterday - including Cameron's PPS»

In relation to the outcome of the tender process, this was been pushed back until 15th October, although in the last day there has been news of a whistleblower within the Legal Aid Agency telling the Law Society Gazette that the tendering process was a «shambles» and that bids were not assessed fairly.

Legal Week: Outsourcing in focus as RBS prepares to cut back legal roster Royal Bank of Scotland (RBS) has kicked off a much - anticipated review of its legal panel, with tender documents sent out to law firms late last mLegal Week: Outsourcing in focus as RBS prepares to cut back legal roster Royal Bank of Scotland (RBS) has kicked off a much - anticipated review of its legal panel, with tender documents sent out to law firms late last mlegal roster Royal Bank of Scotland (RBS) has kicked off a much - anticipated review of its legal panel, with tender documents sent out to law firms late last mlegal panel, with tender documents sent out to law firms late last month.

The motion calls for solicitors to knock back the government's plans to introduce competitive tendering between firms and the awarding of fixed - length contracts for legal aid work.

Japan also set its own precedent in the understanding of Bitcoin as back in April it was announced that Bitcoin was accepted as legal tender, instantly showing a positive approach from the government.

They claimed, for example, to offer a debit card backed by Visa and MasterCard that would allow users to instantly convert hard - to - spend cryptocurrencies into U.S. dollars or other legal tender.

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.

Back in 2015, the Central Bank of Kenya (CBK) issued a statement that warned against the use of bitcoin saying it was not a legal tender and could be used as a conduit for money laundering and terrorism financing.

Virtual currency is not legal tender, is not backed by the government except in few countries like Japan, and accounts and value balances are not subject to consumer protections.

Bitcoin is not legal tender and it is not backed by the government.

Monetary Authority of Singapore again stresses that cryptocurrencies are not legal tender and not backed by any asset or issuer, and advises caution when investing in them.

A number of central banks are seriously studying whether digital currencies backed by global central banks can be used as a legal tender such as the Indian central bank.

«Cryptocurrencies aren't legal tenders and don't have assets to back up their value... Some people say they should be described

According to the SEC, the pair allegedly claimed that the funds raised in the ICO would build financial products, including a Visa or Mastercard - backed debit card that can instantly convert cryptocurrencies into US dollars or other legal tender.