Sentences with phrase «legal tender status»

In particular, virtual currency does not have legal tender status in any jurisdiction.

It does not have legal tender status in any jurisdiction.

Still this negative portrayal of bitcoin trading shows that, at least in the short run, bitcoin in China will have difficulty gaining legal tender status as a payment tool, as opposed to the acceptance that it is seeing in Japan.

In some environments, it operates like «real» currency... but it does not have legal tender status [in the U.S.].

Treasury notes had full legal tender status and were not convertible into gold through the Bank; they replaced the gold coin in circulation to prevent a run on sterling and to enable raw material purchases for armament production.

Bitcoin is definitely not a fiat currency with legal tender status in any jurisdiction.

The Indian central bank establishes a task force that will assess the possible legal tender status to Bitcoin and other virtual currencies.

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.»

FinCen, a bureau of the Treasury Department, said in 2013 that «virtual currency does not have legal tender status in any jurisdiction.»

While virtual currencies do not have legal tender status in any jurisdiction, they operate like «real» currency in that they are accepted as a medium of exchange.

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.

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.

Overall, the public statements aimed to serve as a reminder to citizens who may be considering the digital currency as an investment, and both quoted a government circular released in 2013 saying that bitcoin is a virtual good and doesn't have legal tender status.

The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading, and also quoted from a notice released in 2013 saying that bitcoin is a virtual good and doesn't have legal tender status.

No doubt, some think of the same as an air of positivity which holds the power to impart a legal tender status to Bitcoins.

Although Bitcoin is referred to as a «currency», it is not issued by a monetary authority and does not have the legal tender status of a currency, so it is not at all money in the true sense.

Typically, money must have legal tender status and is issued in the form of coins and banknotes, with printing and supply being controlled by a central bank.

The Indian central bank Reserve Bank of India (RBI) has established a task force that will assess the possible granting of legal tender status to Bitcoin and other virtual currencies.

«In some environments, virtual currency operates like «real» currency - i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance - but it does not have legal tender status in any jurisdiction.

In some environments, virtual currency operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction.

``... 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.»

His views are in line with many countries around the world, including the US where «a cryptocurrency does not have legal tender status in any jurisdiction.»

BOK's legal characterization of cryptocurrencies was in line with many countries around the world, including the US where «a cryptocurrency does not have legal tender status in any jurisdiction.»

In some environments, it operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction.»