Sentences with phrase «money substitutes»
Money substitutes are assets or instruments that are used in place of physical cash to make transactions. These substitutes can be easily converted into cash or used for payments, such as cheques, debit cards, or electronic transfers. They serve as a convenient and readily accepted form of payment, providing the same function as actual money. Full definition
The primary reason, according to authority's governor, is the lack of recognition of cryptocurrencies as money substitutes.
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Both money proper and money substitutes serve as generally accepted means of exchange.
One's t - bills and t - notes are investments in interest bearing securities; even though certain investments may be regarded as secondary media of exchange, one must still convert them to money proper or a perfect money substitute in order to make payments or increase one's cash holdings.
The flaw of the Peel Act was that its proponents had not realized that sight deposit are in fact a perfect money substitute.
The long end of the UST curve is already just as unenthused as ever, while the short end expects higher yields on money substitutes.
That is, it is inconceivable — praxeologically impossible — that a bank and a customer can agree to make money substitutes (banknotes, demand deposit accounts) debts instead of warehouse receipts.
Just as the booms were inflationary in nature, the busts were deflationary, as the amount of money substitutes contracted during the bust phases.
Reflecting on the progress of two main blockchain ecosystems in 2016, Gershuni points out that bitcoin has made another step towards mass adoption as a fiat money substitute.
Regulation The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes.
The greater the proportion of such reserves (plus vault cash) relative to their outstanding deposit liabilities, the more of the outstanding deposit money is in fact represented by «covered» money substitutes as opposed to fiduciary media.
As triangles would remain triangles and be different from squares, so money substitutes would still be money substitutes (titles to present money) and be distinct from debt claims (titles to not yet existing future goods) and equity claims (titles to existing property other than money).
«Systems for anonymous payments and cyber currencies that have gained considerable circulation - including the most well - known, Bitcoin - are money substitutes and can not be used by individuals or legal entities,» a statement by the Russian Prosecutor General's Office read.
«Cryptocurrencies, including Bitcoin, are a money substitute contributing to the growth of the informal economy, and can not be used by citizens and legal entities in the Russian Federation.
Alex Solonchev: The interest in bitcoin technology came first, but not as money substitute.
Alexei Moiseev / ban / Bank of Russia / Bitcoin / Central Bank / criminal / Cryptocurrencies / Cryptocurrency / deputy finance minister / Digital Currency / Ether / finance ministry / money substitutes / money surrogates / N - Featured / payment / penalties / prohibit / Regulation / russia / russian / virtual currency
However, the central bank has spoken against the legalization of cryptocurrencies, stating that «we will not allow the use of cryptocurrency as a money substitute.»