Sentences with phrase «ordinary means of payment»

Not exact matches

Meanwhile, there's little evidence to suggest that Bitcoin will ever be an efficient means of payment for ordinary goods and services.

«The term «pro bono» refers to activities of the firm undertaken normally without expectation of fee and not in the course of ordinary commercial practice and consisting of (i) the delivery of legal services to persons of limited means or to charitable, religious, civic, community, governmental, and educational organizations in matters which are designed primarily to address the needs of persons of limited means; (ii) the provision of legal assistance to individuals, groups, or organizations seeking to secure or protect civil rights, civil liberties, or public rights; and (iii) the provision of legal assistance to charitable, religious, civic, community, governmental, or educational organizations in matters in furtherance of their organizational purposes, where the payment of standard legal fees would significantly deplete the organization's economic resources or would be otherwise inappropriate.»

In light of this consensus as to the term's ordinary meaning, the Court concludes that «funds,» for the purposes of § 1960, means pecuniary resources, which are generally accepted as a medium of exchange or a means of payment.

If it is used as a means of payment, it would be treated like a currency, converted to fiat at its fair market value as disclosed on a cryptocurrency exchange and taxed as ordinary income.