Sentences with phrase «operate as a virtual currency»

Japan's largest Bitcoin and blockchain company, bitFlyer, has now received an official license to operate in the state of Illinois.After receiving a «BitLicense» to operate as a virtual currency exchange in New York in November 2017,...

Tokyo - based bitFlyer has become the fourth digital currency exchange to receive approval from the New York State Department of Financial Services (NYDFS) for a «BitLicense» to operate as a virtual currency exchange in New York.

Not exact matches

Because Bitcoin's virtual currency operates in the same fuzzy confines as Liberty Reserve's, the tech press was quick to draw comparison between the two businesses, wondering if Bitcoin would suffer a similar fate.

In the latest blow — on Tuesday — an alternative virtual currency, known as Tether, that is owned and operated by the same people as Bitfinex, announced that it had been hacked and lost around $ 30 million (U.S.) worth of digital tokens.

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.

Japan's financial regulator recently published a document indicating that it has «warned» Binance for operating in Japan despite «not register [ing]» as a virtual currency exchange business with relevant authorities.

In contrast, the amended bill allows virtual currency businesses to operate in California through January 1, 2022, as long as they participate in the State's Digital Currency Business Enrollment Program (Enrollment Pcurrency businesses to operate in California through January 1, 2022, as long as they participate in the State's Digital Currency Business Enrollment Program (Enrollment PCurrency Business Enrollment Program (Enrollment Program).

The document differentiates between public and permissioned blockchain platforms, noting that those systems operating with permissioned protocols «do not necessarily involve a virtual currency that may serve as the economic incentive for miner or validator participation in public networks.»

The price of the tokens has nothing to do with the Bitcoins price, as tokens operate on a completely different market and they are separate from the Bitcoin's market as a virtual currency.

Bitcoin companies proffering virtual currency wallets often don't fuse well with legal matters, as such, they often face a difficult legal quandary: do they have to operate as a financial institution, likened to a bank, with all its regulations intact, or can these companies operate under a different type of outfit?

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 cuVirtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual cuvirtual currency.

Due to this fact, the public is informed that virtual currencies such as Bitcoin are not legal tender nor authorized payment instruments to operate in Namibia.

The FIU and FSS will check whether banks have properly implemented their anti-money laundering obligations to operate virtual accounts... The FIU has imposed more than 40 checklists on suspicious transactions, stipulating virtual currency as a «high risk» transaction.

The BitLicense authorizes Coinbase's continuing virtual currency business operations in the state of New York and is seen by many as an assurance marker for bitcoin exchanges operating within the US to be regarded as a transparent, safe and secure.

bitFlyer also revealed that it received approval from the New York State Department of Financial Services (NYDFS) to operate in the state as a virtual currency exchange.

According to Nikkei, the banks want to assess the ability to send domestic fund transfers outside of normal operating hours, as well as to see how a virtual currency used between banks could cut costs.

«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.

Japan's financial regulator recently published a document indicating that it has «warned» Binance for operating in Japan despite «not register [ing]» as a virtual currency exchange business with relevant authorities.

Whether you are operating a bitcoin exchange or a merchant business that wants to offer its customers bitcoins as a payment solution, our backend solution provides the technical and legal platform to implement the virtual currency into the existing payment infrastructure and enables payments to be processed in all major fiat currencies.

While the letter from FinCEN signed by Assistant Secretary for Legislative Affairs Drew Maloney states that Treasury wants to promote innovation it opens a question as to how many virtual currency exchanges are operating without the benefit of being compliant.

According to the Hankyoreh, the association's self - regulatory measures will «include minimum operating requirements such as the capital base of virtual currency exchanges, employee ethics regulations, and consumer protection.»

Bitcoin, currently known as the dominant virtual currency, features encryption techniques used to regulate the generation of units of currency, verify the transfer of the funds and operate independently.

The trend in the cryptocurrency industry is to operate purely online as it suits the medium of virtual currencies and is more convenient to access.

The new rules will regulate the activities of firms, operating in or from Gibraltar, that use DLT to store or transmit value belonging to others, such as virtual currency exchanges.