Sentences with phrase «not legal tender in the country»

The watchdog based its decision on the fact that it does not consider digital currencies to be a substitute for money, as they are not legal tender in the country.

Both regulatory bodies warned against the usage of digital currencies like bitcoin as it is not a legal tender in the country and any bank or business that would deal or invest in such would do so at their own risk.

In July the Central Bank of Egypt rejected the use of bitcoin locally insisting it was not a legal tender in the country.

CoinDesk India's finance minister, Arun Jaitley, has said bitcoin is not legal tender in the country and indicated that regulations are under consideration.

As Arun Jaitley, the finance minister of India, has announced bitcoin and other cryptocurrencies are not legal tender in the country by comparing them to a Ponzi scheme.

Not exact matches

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.

In most countries cryptocurrencies are not recognised as legal tender and are only regulated to the extent that they fit within existing laws, such as tax laws.

Interestingly, however, the RBI does not seem too keen on allowing the digital cash to be used as legal tender in the country, as is evident from numerous press releases discouraging their use.

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...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currencIn 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...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currencin the country of issuance — but it does not have legal tender status in any jurisdiction...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currencin any jurisdiction...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currencin real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currency.

The decision to propose traceable activity within India's domestic exchanges follows a statement from the country's Finance Minister from earlier this month, in which he said that cryptocurrencies aren't legal tender there (to be clear, no currency except the Indian Rupee is a legal tender in the country), and that there will be a crackdown on the use of virtual currencies in financing illegitimate activities.

Elsewhere in the notice, the Ministry emphasized that India doesn't recognize any cryptocurrency as a legal tender and that no license is issued in the country to authorize any cryptocurrency exchange.

The country's central bank released an initial warning in February and has followed up with repeated statements that bitcoin and other digital currencies are not legal tender or a permitted means of payment in Vietnam.

The Indian central bank has issued a couple of official warnings on bitcoin, and at the end of 2017 the country's finance minister clarified in an interview that bitcoin is not legal tender.

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.

This week saw officials in India indicate that they will be introducing regulations to completely eliminate payments with cryptocurrency in their country, and they made it official that India does not recognize Bitcoin as a legal tender.

The CBK has pointed out the fact that bitcoin is not recognised as a legal tender in the country and there are no proper regulatory structures governing its use.

To make things worse for an already volatile market, India's finance minister Arun Jaitley, also said that the country's government «does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto assets in financing illegitimate activities or as part of the payment system.»

«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 jurisdictioIn 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 jurisdictioin the country of issuance - but it does not have legal tender status in any jurisdictioin 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 jurisdictioIn 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 jurisdictioin the country of issuance — but it does not have legal tender status in any jurisdictioin any jurisdiction.

India does not regard Bitcoin as legal tender, China is cracking down on digital currencies, while Korea is planning a bill that would ban all cryptocurrency trading in the country, as pointed out by The Verge.

In most countries, the U.S. included, digital currencies are not recognized as legal tender so investors have little to no recourse when their funds are stolen.

Early in February 2018, Indian Finance Minister Arun Jaitley stated that the government does not consider cryptocurrencies as legal tender and will take all measures to eliminate payments used to fund nefarious activities in the country.

In the South Asian country of India, where crypto - mania has been relatively somber and hushed, the government has announced that it doesn't consider digital currencies to be legal tender and will take measures to curb their use.

Singapore's Deputy Prime Minister Tharman Shanmugaratnam recently confirmed that cryptocurrency is not considered «legal tender» in the country.

In India, Finance Minister Arun Jaitley's clear statement that digital currencies would not be accepted as legal tender in the country helped throw a wet blanket on cryptocurrency enthusiasm in the country — which has served as a FUD (Fear, Uncertainty, and Doubt) hotspot at timeIn India, Finance Minister Arun Jaitley's clear statement that digital currencies would not be accepted as legal tender in the country helped throw a wet blanket on cryptocurrency enthusiasm in the country — which has served as a FUD (Fear, Uncertainty, and Doubt) hotspot at timein the country helped throw a wet blanket on cryptocurrency enthusiasm in the country — which has served as a FUD (Fear, Uncertainty, and Doubt) hotspot at timein the country — which has served as a FUD (Fear, Uncertainty, and Doubt) hotspot at times.

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.»

The incertitude actually lies in the fact that the statement does not make clear whether bitcoin is actually prohibited in a wider sense or it is not an officially recognized currency in the country of Zimbabwe, that is to say it is not a legal tender for transaction of business.

Although cryptocurrencies are legal tender in Japan, Coincheck is not registered with the country's Financial Service Authority, raising concerns over whether the lost funds will be insured if the tokens can not be retrieved.

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.»

Crypto - Not - Currency In his annual budget speech today, Union Finance Minister Arun Jaitley once again made clear the government's intention to halt the use of Bitcoin and other cryptocurrencies in India, claiming the South Asian country does not recognize digital currency as legal tendNot - Currency In his annual budget speech today, Union Finance Minister Arun Jaitley once again made clear the government's intention to halt the use of Bitcoin and other cryptocurrencies in India, claiming the South Asian country does not recognize digital currency as legal tendeIn his annual budget speech today, Union Finance Minister Arun Jaitley once again made clear the government's intention to halt the use of Bitcoin and other cryptocurrencies in India, claiming the South Asian country does not recognize digital currency as legal tendein India, claiming the South Asian country does not recognize digital currency as legal tendnot recognize digital currency as legal tender.