Sentences with phrase «only legal tender»

Only legal tender satisfies that.

In fact, confusingly there are no legal tender notes in Scotland - Bank of England notes are only legal tender in England and Wales.

Not exact matches

Many virtual currencies are trying to dislodge the British pound but «only sterling is legal tender in the UK,» Carney said in another March speech.

«Only sterling is legal tender in the UK,» according to Carney (pictured above).

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.

Intended only as a collector's item, the digital coins won't be issued with a view to entering into circulation and can't be used as legal tender, the bank said.

«When bills come due, only cash is legal tender.

University of Nicosia in Cyprus announced today that it will accept the digital - only currency as legal tender for tuition and fees.

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.»

They only assume you are hungry and have legal tender to pay for what you order.

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.

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.

«When bills come due, only cash is legal tender.

Despite current concerns with legal aid fee cuts and competitive tendering, criminal lawyers accounted for only 7 % of calls.

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.

There are only two fundamental differences between bitcoin and national currencies: (1) bitcoin is issued by an algorithm rather than a central bank so predictable machines rather than arbitrary humans control the «printing» and the total amount of bitcoin; (2) creditors can sue you if you present bitcoin to settle a debt denominated in national currency but if you present the currency it will be a defence to the creditor's suit under some form of a «legal tender» statute (Currency Act, RSC 1985, c C - 52 in Canada; 31 U.S. Code § 5103 in the US).

The Indian government is unlikely to criminalize the holding and trading of cryptocurrencies, especially now that world leaders such as Japan and Germany have already embraced their use as legal tender, with the United States only recently announcing the launch of bitcoin futures in November 2017.

Official legislation only acknowledges notes and coins issued by the Bank of Canada as legal tender, which automatically excludes digital currency.

The new law defines virtual currencies as «asset - like values,» allowing digital money to be used not only to buy goods and services but also as an alternative for legal tender through purchases and trades.

Not only Japan recognized Bitcoin as legal tender on April 1, but also announced the tax policies related to transacting and investing in Bitcoins.

That does not, however, mean that bitcoin is «legal tender» - so far, only Japan has gone as far as to give bitcoin that designation.

It is our understanding that only currency notes and coins are legal tender.