Sentences with phrase «use of cryptocurrencies as»

The huge volatility of the price of cryptocurrencies — with respect to either traditional currencies or to a basket of goods and services — has made use of cryptocurrencies as a unit of account impractical.

Wilkins also spoke out against the use of cryptocurrencies as a source of funding for illegal activities.

Additionally, several big businesses have debated the use of cryptocurrencies as a result of their inherent price volatility and exorbitant transaction fees.

Regulation The Russian Ministry of Finance is drafting a law to criminalize the use of cryptocurrencies as money substitutes.

The State Bank of Vietnam or SBV has recently announced that they'll be placing a ban on the use of cryptocurrencies as the next year goes on.

Trading has increased significantly, so has the use of cryptocurrencies as a means of payment.

Several big businesses have debated the use of cryptocurrencies as a result of their inherent price volatility.

A number of big businesses have debated the use of cryptocurrencies as a result of their price volatility.

However, both Dubai and the United Arab Emirates also released several warnings last fall to the public about the risks of Initial Coin Offerings (ICO) and the use of cryptocurrencies as legal payment, due to their anonymity and potential use for nefarious purposes.

Further moves are unlikely for now, however, as officials from the central bank recently said that regulation is not needed for the use of cryptocurrencies as payment.

While Nigerian banks are prohibited from handling virtual currencies, the central bank is working on a white paper which will draft its official stance on use of cryptocurrencies as a payment method.

Currently, there are quite a lot of mixed views and opinions pertaining to the use of cryptocurrencies as a legal ledger.

Several big businesses have debated the use of cryptocurrencies as a result of their price volatility.

But by discouraging the real - world use of cryptocurrencies as money for purchasing goods, the IRS is reducing the incentive for companies in the space to build robust tools to track spending and improve tax reporting.

The new draft law will define the term «money surrogates», and also determine penalties for the use of cryptocurrencies as a means of payment.

And then the use of Cryptocurrencies as a payment mechanism for Blockchain based applications and services.

Publicly opposes use of cryptocurrencies as substitutes for the ruble.

Local sources in Cairo are reporting that Egypt's grand mufti, Shawki Allam, issued a fatwā on New Year's Day that classifies the use of cryptocurrencies as incompatible with Sharia Law.

In a funds speech earlier than the Indian parliament, finance minister Arun Jaitley expressed a hostile stance towards the use of cryptocurrency as authorized tender.

Some such as the China have resorted to banning the use of cryptocurrency as they take time to find ways to control it, while other such as Japan, Saudi Arabia, and Russia are trying to create their own cryptocurrencies or simply embracing the blockchain technology.

The obligatory reporting of transactions suspected to be part of money laundering and drug trafficking was also made part of the legislation in an effort to crack down on use of cryptocurrency as a medium to facilitate illegal financial activities.

However, the central bank has spoken against the legalization of cryptocurrencies, stating that «we will not allow the use of cryptocurrency as a money substitute.»

Not exact matches

An Iranian newspaper says the country's Central Bank has officially banned the use of cryptocurrencies in financial transactions in order to «prevent crimes such as money laundering and terrorism.»

On its website, Verge is described as a cryptocurrency which «improves upon the Bitcoin blockchain» and uses open - source software like Tor and I2P — both of which have been used in connection to the former trading site for illicit goods, the Silk Road.

They will be aiming to use blockchains, a technology that made its name as the basis of the cryptocurrency Bitcoin, to maintain secure digital records and improve the traceability of their foodstuffs, like chicken, chocolate, and bananas.

As security consultant Scott Helme first noted on Sunday, sites using Texthelp's Browsealoud plugin were leeching off the computing power of those visiting the sites, in order to mine cryptocurrency.

Bitcoin investors are on alert to see whether Beijing will take further action against cryptocurrencies, such as shutting down bitcoin «mines», the energy - hungry operations that create bitcoin by solving mathematical problems using vast banks of computers.

Over the past decade, patient investors benefited greatly from one of the longest economic expansions in U.S. history, using stocks, gold and even cryptocurrency as vehicles of profit.

Reserve Bank of Australia Governor Philip Lowe said this month that the fascination with cryptocurrencies «feels more like speculative mania than it has to do with their use» as a form of payment.

Initial Coin Offerings, a fundraising mechanism for companies using cryptocurrencies as a mechanism to buy their service, seem to be upending the world of venture capital.

[CEO Pavel] Durov's idea is to launch an entirely new blockchain, using the Telegram's 180 million users as rocket fuel to power forward into mainstream adoption off cryptocurrency and making Telegram, effectively, a kingmaker of other cryptocurrencies, because of its existing scale.

«The criminal profits were also laundered via cryptocurrencies, by means of prepaid cards linked to the cryptocurrency wallets which were used to buy goods such as luxury cars and houses,» Europol said in a statement.

«The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto - assets in financing illegitimate activities or as part of the payment system,» Arun Jaitley told lawmakers in New Delhi, according to a transcript by The Hindu newspaper.

It's the technology underpinning popular cryptocurrencies like bitcoin and ether, and companies that use blockchains to build their core products can also use them to create tokens as a form of equity.

As a result, a transaction such as trading bitcoin for another digital coin is taxable since it is considered a sale of property for cash, which is then used to buy the other cryptocurrencAs a result, a transaction such as trading bitcoin for another digital coin is taxable since it is considered a sale of property for cash, which is then used to buy the other cryptocurrencas trading bitcoin for another digital coin is taxable since it is considered a sale of property for cash, which is then used to buy the other cryptocurrency.

Toronto - Dominion Bank is halting the use of its credit cards to buy cryptocurrency as it conducts a review of the «evolving market.»

BH: So, cryptocurrencies are a kind of money, so long as people ascribe value to them and use them to pay for things.

Hackers who quietly commandeer thousands of poorly - secured connected devices — such as «smart» TVs and thermostats — can get rich by using them to mine cryptocurrency.

Other Asian countries have since followed suit, with South Korea reportedly set to ban the use of anonymous accounts in cryptocurrency transactions as soon as this month.

Whether that assertion proves correct with respect to any digital asset that is labeled as a cryptocurrency will depend on the characteristics and use of that particular asset.

Russian nationals identified in a Justice Department indictment released Friday used cryptocurrency exchanges as part of an alleged scheme to mislead U.S. citizens leading up to the 2016 presidential election.

Criminals have used cryptocurrencies and its promise of anonymity as a way to carry out illegal activities like receiving ransom payments and selling banned goods without being caught.

Moiseev and Skorobogatova reiterated the position expressed earlier by central bank head Elvira Nabiullina that cryptocurrencies should not be used nor treated as a conventional means of payment.

Russian officials have previously suggested that decentralized cryptocurrencies should not be used as a conventional means of payment and that their owners should be subjected to a value - added tax; President Vladimir Putin himself has stated that they «can not be a store of value.»

Sources described as «close to» the agency apparently said that the move comes in response to concerns over money laundering and other possible illegal uses of the cryptocurrencies.

Putin, whose statements are often interpreted by Russia - watchers as a bellwether, suggested on October 10 that blockchain technology might offer «new... solutions» to the Federation's «banking sphere,» but cautioned that the «use of cryptocurrencies also carries serious risks.»

Indeed, Ethereum, the platform behind the Ether cryptocurrency that is used as a base for tokens sold in ICOs, recently hit a record high of $ 1,000 up from less than $ 500 at the end of November.

In February 2018, Bank of England governor Mark Carney said that cryptocurrencies have «failed» to behave as currencies because they are not an effective «store of value» and because «nobody uses [them] as a medium of exchange.»

The bank official described state - issued cryptocurrency as another possible solution to this problem, opining that, «Central banks around the world are examining (the use of digital currencies) so we should as well.»

Zcash describes itself as the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using