Sentences with phrase «official legal tender»
But On April 1, 2017 Japan announced to recognize Bitcoin as official legal tender and also introduced tax policies on it.
https://kryptomoney.com/
May be not as specific, but no official legal tender coin is struck without a law approving it.
Not exact matches
«As part of the new Regulations, an official joint announcement will be released during the upcoming PBOC press conference making it clear that neither the People's Bank of China nor the Hong Kong Monetary Authority recognises Bitcoin or any other virtual currency as legal tender, thus, making its use as an official currency to settle debts and financial obligations illegal.
Official legislation only acknowledges notes and coins issued by the Bank of Canada as legal tender, which automatically excludes digital currency.
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.
«In addition to the bank not recognizing virtual currencies as legal tender in Namibia, it also does not recognize it to be a foreign currency that can be exchanged for local currency,» officials said at the time.
The Marshall Islands is set to release its own cryptocurrency called the Sovereign after the Parliament voted to approve an official cryptocurrency as legal tender, a move that could end its reliance on the US Dollar as its official currency.
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.
Still, the central bank stressed that Tuesday's release doesn't represent any kind of endorsement from them - nor does it mean that officials are moving to consider cryptocurrencies a form of legal tender in Malaysia.
India's foremost financial official has publicly refuted bitcoin as a currency and legal tender in the country.
«The purpose of this Act is to declare and issue a digital decentralized currency based on blockchain technology as legal tender of the Republic of Marshall Islands,» reads the bill, posted in the Sovereign's official Telegram channel.
Presenting Budget 2018 last month, Finance Minister Arun Jaitley reiterated a well - known official position — cryptocurrency is not recognized as legal tender in India.
As bitcoin struggles to find its place as a legal tender for business transactions in many countries, director and registrar of the Reserve Bank of Zimbabwe, Zimbabwe's Central Bank, Norman Mataruka has raised more doubts about the cryptocurrency's authenticity in the country by an official statement released earlier this week.