Sentences with phrase «to be legal tender»

Cash is legal tender for all debts public and private which means the university can not refuse.

They may not be legal tender yet, but they're also not backed by any sort of physical commodity.

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

Included in this category are questions such as whether cryptocurrencies are legal tender, or how to regulate decentralized applications.

There may be legal tender laws, but I can tell you that there would be fights over things like this.

This is due to the premise of bitcoin being legal tender.

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

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).

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

It carries with its officialdom the claim of being legal tender guaranteed to have the the weight and purity (1 troy ounce.9995 platinum) by the Royal Canadian Mint and the government of Canada.

The U.S. Dollar is the legal tender in Turks & Caicos.

All Australian banknotes have This Australian note is legal tender throughout Australia and its territories, or something similar printed on them.

Subject to this section, a tender of payment of money is a legal tender if it is made (b) in notes issued by the Bank of Canada pursuant to the Bank of Canada Act intended for circulation in Canada.

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

Beginning in 1631, hemp was legal tender for paying taxes in many of the American colonies and remained so for state taxes until the early 1800s.

«It's a bit of an anomaly in the Swedish legal system because if you look at the Riksbank Act it says pretty straightforward that the Swedish krona is legal tender and it should be compulsory to accept that for settling transactions,» Riksbank's Skingsley said.

A piece of property?The legal definition of money is «something which is a legal tender of a sovereign nation».

It said that extrapolating meaning of an asset not being legal tender as illegal is irresponsible.

Now, therefore, in exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934)(hereinafter referred to as the said Act), the Central Government hereby declares that the specified bank notes shall cease to be legal tender with effect from the 9th November, 2016 to the extent specified below, namely:

Thereafter the old pound coin will no longer be legal tender.

Nowadays, a lot of countries use money that is declared by a government to be a legal tender even when it is not replaceable into standard specie, which is made a legal tender by the edict of a government.

The decision to propose traceable activity within India's domestic exchanges follows a statement from the country's Finance Minister from earlier this month, in which he said that cryptocurrencies aren't legal tender there (to be clear, no currency except the Indian Rupee is a legal tender in the country), and that there will be a crackdown on the use of virtual currencies in financing illegitimate activities.

However, last month it was reported that The Republic of the Marshall Islands had become the first sovereign nation to issue a cryptocurrency that will be legal tender alongside that of the US dollar.

FYI: In the UK, legal tender is: 1p and 2p coins up to 20p, 5p and 10p coins up to # 5, 20p and 50p coins up to # 10, and everything bigger (# 1 coins upwards) is legal tender for any amount.

Although cryptocurrencies are legal tender in Japan, Coincheck is not registered with the country's Financial Service Authority, raising concerns over whether the lost funds will be insured if the tokens can not be retrieved.

Banknotes can degrade, and outside of the country issuing the currency, there are no legal tender laws to enforce the use of foreign fiat cash.

Through cautionary statements and pronouncements of bitcoin not being legal tender, the Reserve Bank of India too has been very active, rhetorically, issuing press releases and commissioning studies.

Since Panama does not print its own paper currency, the U.S. dollar is legal tender in Panama.

And since coins are legal tender, there's no need to authenticate the metal before you sell it.

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

Indian government had drawn links in between crypto investments and Ponzi schemes while refusing to impart the tag of being a legal tender to bitcoin.

Utah kicked off the trend in 2011, when it declared gold and silver to be legal tender in the state.

The definition of «fiat money» is a currency that is legal tender but not backed by a physical commodity.

(2) On recommendation of the Central Board the 3 [Central Government] may, by notification in the Gazette of India, declare that, with effect from such date as may be specified in the notification, any series of bank notes of any denomination shall cease to be legal tender 4 [save at such office or agency of the Bank and to such extent as may be specified in the notification].

─ Whereas, the Central Board of Directors of the Reserve Bank of India (hereinafter referred to as the Board) has recommended that bank notes of denominations of the existing series of the value of five hundred rupees and one thousand rupees (hereinafter referred to as specified bank notes) shall be ceased to be legal tender;

Prohibit transfer or receipt of the banknotes that have ceased to be legal tender, so that these do not reflect anymore as a liability on the Issue Department of the Reserve Bank of India.

«Mr Douglas Carswell (Clacton)(Con): I beg to move, That leave be given to bring in a Bill to amend the Currency and Banknotes Act 1954 to allow banknotes in addition to those issued by the Bank of England to be legal tender; and for connected purposes.

There exists a new upper class that's completely disconnected from the average white American and American culture at large The old «round pound» has ceased to be legal tender - here's what to do if you have any left

- featuring celebrated journalist and writer Robert MacNeil in his first public television documentary The old «round pound» has ceased to be legal tender - here's what to do if you have any left

Is he more worried about it now than he was when D's were legal tender?

Yes, they're legal tender.

Turner Contemporary is asking people across Kent to support their Learning Programme by donating their old # 5 notes to the gallery now that they have ceased to be legal tender...

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.

Yes, they are legal tender.

31 USC 5103: United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.

They are United States coins so they are legal tender.