Sentences with phrase «other legal tender»

According to the SEC, the pair allegedly claimed that the funds raised in the ICO would build financial products, including a Visa or Mastercard - backed debit card that can instantly convert cryptocurrencies into US dollars or other legal tender.

They claimed, for example, to offer a debit card backed by Visa and MasterCard that would allow users to instantly convert hard - to - spend cryptocurrencies into U.S. dollars or other legal tender.

Not exact matches

Sweden could eventually «reach a situation where legal tender is no longer an efficient medium of exchange for commercial transactions and that it is a situation that no other country has been in before,» Skingsley said.

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.

The company would have to file a notice with the regulatory department; pay a registration fee of $ 250; provide evidence of registration with FinCEN as a money services business; agree to not invest or pledge virtual currency in its custody or control on behalf of others or to engage in the exchange or transfer of legal tender; and prove its policies for reporting, disclosures, and compliance.

FinCEN's regulations define currency (also referred to as «real» currency) as «the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance.»

Russia previously revealed that its central bank was developing a national cryptocurrency and that it would not recognize others like bitcoin as legal tender.

The FINCEN definition of currency: The coin and paper money of the United States or any other country that is (1) designated as legal tender and that (2) circulates and (3) is customarily accepted as a medium of exchange in the country of issuance.»

The confidence in Bitcoin may break as a result of unexpected changes such as: unfavorable legal regulations, banning electronic legal tenders, introducing the prohibition on trading in virtual currency in specific areas, imposing high taxes, creating competitive alternative currencies, deflation, and other factors which may significantly affect the shaping of the exchange rate of Bitcoin against other currencies.

This is a natural response from governments to a new medium of exchange, which could end up competing with their own legal tender, commodities and other assets as a store of value and alternative method... Read more»

Finance minister going all out against Bitcoin and other cryptocurrencies is definitely a reason for grave concern for the Indian cryptocurrency investors as he said that the government does not consider these virtual currencies as a legal tender.

«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.

[65] It classified digital currencies and other digital payment systems such as bitcoin as «virtual currencies» because they are not legal tender under any sovereign jurisdiction.

And you've even got countries like Australia slated this summer to make Bitcoin and other cryptocurrencies legal tender.

2 stating «Bitcoin and other virtual currencies are distinct from «real» currencies, which are the coin and paper money of the United States or another country that are designated as legal tender, circulate, and are customarily used and accepted as a medium of exchange in the country of issuance.»

It must be emphasised that gold, stocks, bonds, and other such assets are also not legal tender.

The IAMAI panel statement said that every citizen and business in this country should play their role in eliminating financing of illegitimate activities, regardless of whether such financing is done using legal tender, cryptocurrency, gold, or any other medium.

In a circular dated January 12, 2017, the apex bank told the DMBs and other financial institutions that the digital currencies were not legal tenders in Nigeria.

For the Legal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between fLegal Action Group (LAG), and other legal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between flegal aid commentators, the failure of the tenders was very much a case of «I told you so» as concerns were expressed about the tender process from its inception and in particularly the selection criteria to distinguish between firms.

Business Development: Brokering various business dealings that further the diversification of Indian economies Developing and accessing commercial financial programs and services for tribal governments, including tax - exempt offerings and federally - guaranteed housing loans Serving as issuer or underwriter's counsel in tribal bond issuances Ensuring tribal compliance with Bank Secrecy Act and other federal financial regulatory requirements Handling federal and state income, excise, B&O, property and other tax matters for tribes and tribal businesses Chartering tribal business enterprises under tribal, state and federal law Registering and protecting tribal trademarks and copyrights Negotiating franchise agreements for restaurants and retail stores on Indian reservations Custom - tailoring construction contracts for tribes and general contractors Helping secure federal SBA 8 (a) and other contracting preferences for Indian - owned businesses Facilitating contractual relations between tribes and tribal casinos, and gaming vendors Building tribal workers» compensation and self - insurance programs Government Relations: Handling state and federal regulatory matters in the areas of tribal gaming, environmental and cultural resources, workers» compensation, taxation, health care and education Negotiating tribal - state gaming compacts and fuel and cigarette compacts, and inter-local land use and law enforcement agreements Advocacy before the Washington State Gambling Commission, Washington Indian Gaming Association and National Indian Gaming Commission Preparing tribal codes and regulations, including tribal court, commercial, gaming, taxation, energy development, environmental and cultural resources protection, labor & employment, and workers» compensation laws Developing employee handbooks, manuals and personnel policies Advocacy in areas of treaty rights, gaming, jurisdiction, taxation, environmental and cultural resource protection Brokering fee - to - trust and related real estate and jurisdictional transactions Litigation & Appellate Services: Handling complex Indian law litigation, including commercial, labor & employment, tax, land use, treaty rights, natural and cultural resource matters Litigating tribal trust mismanagement claims against the United States, and evaluating tribal and individual property claims under the Indian Claims Limitation Act Defending tribes and tribal insureds from tort claims brought against them in tribal, state and federal courts, including defense tenders pursuant to the Federal Tort Claims Act Assisting tribal insureds in insurance coverage negotiations, and litigation Representing individual tribal members in tribal and state civil and criminal proceedings, including BIA prosecutions and Indian probate proceedings Assisting tribal governments with tribal, state and federal court appeals, including the preparation of amicus curiae briefs Our Indian law & gaming attorneys collaborate to publish the quarterly «Indian Legal Advisor ``, designed to provide Indian Country valuable information about legal and political developments affecting tribal riLegal Advisor ``, designed to provide Indian Country valuable information about legal and political developments affecting tribal rilegal and political developments affecting tribal rights.

R (London Criminal Courts Solicitors Association and others) v Lord Chancellor [2015] EWCA Civ 230, [2015] EWHC 295 (Admin), [2014] EWHC 4733 (Admin)-- represented the claimant / appellant solicitors» associations in their challenges to the Lord Chancellor's decisions concerning criminal legal aid tenders.

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 currency.

India's government has ruled out cryptocurrency as legal tender, Vietnam has banned payments in Bitcoin and other cryptocurrencies on the pain of heavy fines, and China has outlawed ICOs altogether.

Hogeg plans to do this by issuing a new cryptocurrency and selling some of it to investors in exchange for legal tender or other cryptocurrencies, such as Bitcoin.

In an ICO a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin.

In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.

Looking at Japan other countries are also starting to recognize Bitcoin as a legal tender of money.

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 Bank has also repeatedly warned the public that digital currencies are not legal tender in Malaysia and thus not covered by certain conduct standards that are applied to other regulated entities.

The Indian central bank Reserve Bank of India (RBI) has established a task force that will assess the possible granting of legal tender status to Bitcoin and other virtual currencies.

Vietnam is among the world's countries where bitcoin and other cryptocurrency is still not deemed legal tender, and one can not employ the currencies inside the country for payment.

Ken Research in its latest study, Global Cryptocurrency Market by Market Capitalization of Major Cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Monero, NEM and Others), by Mining Facilities and by Use of Bitcoin — Outlook to 2022, suggested that demand for cryptocurrency in the market will grow manifold in the future years albeit with restrictive government policies to consider the digital currencies as a legal tender.

«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.

In an ICO, a specific part of the currently issued cryptocurrency is sold to investors in exchange for any legal tender or any other cryptocurrency.

«Every citizen and business in this country should play their role in eliminating financing of illegitimate activities, regardless of whether such financing is done using legal tender, cryptocurrency, gold or any other medium.

Japan has quickly become the model for early adoption after regulators officially recognized bitcoin and other cryptocurrencies as legal tender.

Other countries like India (that has ruled out cryptocurrency as legal tender) are focused on deciding clear regulation for trading of cryptocurrencies.

It was the first major economy to bestow legitimacy on virtual currencies, by recognising Bitcoin and other virtual currencies as legal tender in April of 2017.

In April, Japan officially recognized Bitcoin, and other cryptocurrencies of its ilk, as legal tender.

Some countries that allow or tolerate cryptocurrencies have chosen to treat them as foreign currencies, sometimes with the status of legal tender; while others have denied them currency status but consider them valuable property.

In January 2018 the Indian Finance minister, Arun Jaitley, made it clear once more that bitcoin and other cryptocurrencies will not be treated as legal tenders.

The Bitcoin can be exchanged for either fiat money (legal tender) or other alternative cryptocurrencies such as Ethereum.

As previously reported, the measure, as currently written, would clarify that bitcoin and other cryptocurrencies are not legal tender in Mexico.

Some tokens are published on coin exchanges, allowing them to be bought, sold and traded for legal tender or other cryptocurrencies.

«Ultimately, bitcoin is a convertible virtual currency that can be exchanged between users and converted into dollars, euros or other currency of real or virtual legal tender.»

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.

Among other things, it defines how the RBI may conduct business as well as the nature of «legal tender» currency in India.

According to the press release, one of the documents is entitled «On Digital Financial Assets», confirming that the country does not wish to accept Bitcoin or other digital tokens as legal tender.

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 tender.