Sentences with phrase «legal tender by»

However, the bill specifically does not make Bitcoin legal tender by ``..

Meanwhile, Russian Finance Minister Alexey Moiseev told Bloomberg that Russia hopes to recognize cryptocurrencies like Bitcoin as legal tender by 2018.

is not recognized as legal tender by the US government.»

It differs from digital coins in that it's regulated and legal tender by a government, so its value typically relies on the market of supply and demand.

The law defines «virtual currencies» as any type of digital representation of value that is used as a medium of exchange, unit of account or store of value, and is not recognized as legal tender by the United States government.

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.»

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.

«The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto - assets in financing illegitimate activities or as part of the payment system,» Arun Jaitley told lawmakers in New Delhi, according to a transcript by The Hindu newspaper.

The RBI move is in line with the government's stance that cryptocurrencies are not legal tender and is also in sync with greater regulatory scrutiny by central banks of several other countries including the US, Japan, China and South Korea.

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.»

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.

For small business owners contemplating adding alternative payment solutions to their menu of legal tender, consider these tips: Don't be intimidated Just because the payment solution you're offering is not the tried - and - true standard exemplified by cash or credit, that doesn't mean its implementation will be difficult.

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.

Venezuela's president just officially made it «legal tender,» meaning it can be used the same way as cash and is accepted as payment by the government.

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

It's government required use of money, legal tender laws, and the ability to print money that's unbacked by any kind of commodity.

It carries with its officialdom the claim of being legal tender guaranteed to have the the weight and purity (1 troy ounce.9995 platinum) by the Royal Canadian Mint and the government of Canada.

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.»

A gift of virtual currency, such as bitcoin, to charity or a donor - advised fund is not recognized by the IRS as legal tender.

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;

We know it wasn't bank printed notes and we know it wasn't the legal tender or monetary coin held by the banks so, what was it?

The proposal defines «virtual currencies» as a digital representation of value that can be digitally transferred, stored or traded and accepted by natural or legal persons as a medium of exchange, but does not have legal tender status.

We should scrap the legal tender laws and let people make deals in any currency they want — including ones created by private companies.

«Mr Douglas Carswell (Clacton)(Con): I beg to move, That leave be given to bring in a Bill to amend the Currency and Banknotes Act 1954 to allow banknotes in addition to those issued by the Bank of England to be legal tender; and for connected purposes.

The stores that purchase the scanning machines are trying to be accommodating by deferring the decision to refuse the «legal tender» after verifying it (checking if it is acceptable).

As well, only legal - tender coins produced by the Royal Canadian Mint are eligible for RRSP gold investing.

As well, only legal - tender coins produced by the Royal Canadian Mint are RRSP - eligible.

As well, only legal - tender bullion coins produced by the Royal Canadian Mint are RRSP - eligible.

Legal tender technically just means that by law it can not be refused as a settlement of debt, so a store can accept any currency it likes — such as euros — if it decided to.

Turner Contemporary is asking people across Kent to support their Learning Programme by donating their old # 5 notes to the gallery now that they have ceased to be legal tender...

Many pieces in the collection are not in fact legal tender, yet they function as a means of payment in their mutual acceptance by exchanging parties.

The proposals, if implemented, will have the effect that many migrants and prisoners will no longer be eligible for legal aid; access to judicial review will be restricted; contracts for criminal work will be the subject of competitive tendering; and fees paid to legal aid solicitors and barristers will be reduced, by more than 50 % in some instances.

Thames Water has invited firms to tender for a new legal panel for «high visibility, substantial and complex work», alongside its fixed - fee arrangement for day - to - day legal services currently held by Berwin Leighton Paisner (BLP).

The tender process, which is being organised by operations legal director Saswata Mukherjee, is part of a push by the UK company to formalise its relationships with its major external counsel.

Plans to introduce best value tendering (BVT) for criminal defence services in October have been scrapped by the Legal Services Commission (LSC) following fierce opposition from stakeholders.

A slight digression: it was interesting to read in the Legal Action Group's (LAG's) Austerity Justice book that the coalition government dropped plans to introduce competitive tendering because, as LAG director Steve Hynes tells it, Ken Clarke was persuaded by «his old colleagues at the criminal bar».

A number of legal challenges to the tender results were launched by firms.

A survey by family law group Resolution of 561 firms revealed that 40 % have been wholly unsuccessful in their competitive tendering bids to provide family legal aid, while 15 % were only partially successful.

Concerns about Lord Carter's proposals to reduce the # 2bn legal aid budget and introduce price - competitive tendering will also be discussed by society members at a special general neeting on legal aid on 17 January, after Southampton solicitor, Roger Peach, rallied support for direct action.

OneSavings Bank has unveiled its first legal panel following a tendering process led by its new head of legal.

A consultation on the principles of best value tendering (BVT) for criminal defence services, and a policy paper — Assuring and Improving Quality in the Reformed Legal Aid System — have been published by the Legal Services Commission (LSC).

The complex legal assistance provided by Maravela Asociații to Betty Ice comprises all transaction related aspects, including due diligence, preparing the tender, negotiation of the transaction documents, liaising with the competition authorities.

The tendering process for the new criminal legal aid contracts was put on hold by the Administrative Court, following an application for interim relief by the LCCSA and CLSA.

In the United States, the recognized legal tender consists of U.S. dollars and coins issued by the Federal Reserve.

R (London Criminal Courts Solicitors Association) v Lord Chancellor [2015] EWHC 295 (Admin) Junior to Jason Coppel QC; challenge to the criminal legal aid tender process on rationality, Tameside and procurement grounds on behalf of criminal legal aid defence firms (instructed by Kingsley Napley)

The days when clients would pay 500 % of value vanish when they have the option, in small matters and large, to pay far less by finding a lawyer or firm which has done everything it can to promote efficiency in tendering legal services.

The committee then turned to the ultimate goal of the reform proposals, the adoption of a market - based system where legal aid rates would be determined by competitive tendering for block contracts.

Providing market prices for legal services by using a tender system whereby the client is identified after first bidding round.