Sentences with phrase «used as a virtual currency»

As for the notion that the big payment processors may fear cryptocurrencies as potential competitors, this could become an issue if and when cryptocurrencies recover from their current crash and settle into a less volatile pattern that encourages their use as virtual currency rather than as speculative assets.

The app can also be used as a virtual currency, which can be used for buying electronic gifts.

Currently, only the following coins have been approved for use as a virtual currency: Bitcoin, Bitcoin Cash, DogeCoin, Dao, Dash, Digicash, Americoin, Ethereum, Ethereum Classic, Litecoin, Lisk, Monero, Ripple, Steam, Tether, Waves, and ZCash.

Not exact matches

The closure of Silk Road in October, the online marketplace that allegedly allowed more than a billion dollars of illegal drugs and illicit services to be bought using the virtual currency, is cited as another major driver.

«Payments made with virtual currencies are not only irreversible,» the report continues, «they also do not have the same legal protections as most traditional payment methods, such as the ones you have when using a credit card.»

It's being billed as the first mainstream service allowing consumers to buy and sell bitcoin, the virtual currency used as an alternative to traditional money systems.

As the Use of Virtual Currencies in Taxable Transactions Becomes More Common, Additional Actions Are Needed to Ensure Taxpayer Compliance

«Defendants used the lure of quick riches from a twenty - first century payment system known as virtual currency to defraud investors.

The two announcements also acknowledge that «the function of digital tokens has evolved beyond a virtual currency» and point out use cases, such as representation of ownership or a security interest over a token seller's assets or property, or a debt owed by the seller.

As virtual currency transactions using cryptocurrency software rise, rules that seek to regulate virtual currency businesses geographically may be difficult to interpret and enforce.

The bill arose out of a desire to insure that Hawaii's tourism industry has the ability to serve tourists who prefer to use virtual currency: «A large portion of Hawaii's tourism market comes from Asia where the use of bitcoin as a virtual currency is expanding.

Digital currencies such as bitcoin are issued and usually controlled by its developers, and are used by members of virtual communities.

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.»

In addition, the Parliament proposes the role of a «custodian wallet provider» as an entity that would provide services to safeguard customers» private cryptographic keys that are used to hold, store, and transfer virtual currencies.

«The use of virtual currency transactions has and will continue to expand exponentially, as will blockchain technology applications.

«Not so long ago, some experts argued that personal computers would never be adopted, and that tablets would only be used as expensive coffee trays, so I think it may not be wise to dismiss virtual currencies,» Lagarde said.

Companies are using various gamification techniques for their customers such as loyalty points, discounts, and virtual currency to encourage them to be loyal to the brand.

Instead of adopting the currency of another country — such as the U.S. dollar — some of these economies might see a growing use of virtual currencies.

The use of automated trading software has revolutionized currency CFD trading, as well as the use of virtual private servers.

However, if the same payment were made using virtual currency, the transaction cost would have been < 1 % of the transaction amount, as there are no intermediaries.

Chanticleer Holdings said it uses the same infrastructure as other virtual currencies, such as bitcoin, Ethereum, Ripple, Litecoin, and more.

According to recent reports, Intelligence Agencies in India have just issued an official report stating that virtual currencies such as Bitcoin can be used for the funding of illegal activities, by people who also move their funds through hawala transactions.

«The IRS offers no explanation as to how the IRS can legitimately use most of these millions of records on hundreds of thousands of users; instead, it claims that as long as it has submitted a declaration from an IRS agent that the IRS «is conducting an investigation to determine the identity and correct federal income tax liabilities of United States persons who conducted transactions in a virtual currency during 2013 - 2015» the Court must find that the Summons does not involve an abuse of process.

Virtual currencies like Bitcoin can be used to make micropayments as small as 25 or 50 cents.

He added that there was a need to spread awareness about bitcoins and how criminals were using this «virtual currency» as a tool as all transactions of bitcoins are untraceable.

And it notes the European Central Bank's (ECB) report «Virtual Currency Schemes» (October 2012) worrying that «virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activities.Virtual Currency Schemes» (October 2012) worrying that «virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activitiesCurrency Schemes» (October 2012) worrying that «virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activities.virtual currency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activitiescurrency schemes -LSB-...] could represent a challenge for public authorities, given the legal uncertainty surrounding these schemes, as they can be used by criminals, fraudsters and money launderers to perform their illegal activities.»

BitPay has long been gunning to establish itself as the largest payment service for people who use virtual currencies such as BitCoin.

Widespread adoption of virtual currency is hindered by anti-money laundering and illicit trade concerns, as well as volatility, ease of use obstacles, and a lack of basic trust.

«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 illegaAs 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 illegaas legal tender, thus, making its use as an official currency to settle debts and financial obligations illegaas an official currency to settle debts and financial obligations illegal.

Similarly, earlier this week, Bank Indonesia expressed that virtual currencies, including bitcoin, are no longer recognized as a legitimate form of payment and are forbidden for use in all financial transactions.

At present, the most common corporate use of virtual currencies is simply as a means for customers to pay.

The CFPB released an advisory detailing the risks associated with using virtual currencies such as bitcoins.

While the world has been busy criticizing Russia for the way it is hosting the 2014 Sochi Winter Olympics, its government is busy cracking down on virtual currencies that allegedly can be used for criminal activities such as money laundering and terrorism.

Bitcoin is understood to fall under the definition of virtual currency in the Act because it is electronically exchanged for traditional currency by exchange service operators and can be used by anyone accepting Bitcoin as payment.

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.»

As used herein, «Digital Currency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuAs used herein, «Digital Currency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store oCurrency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store ocurrency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuas, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuas a medium of exchange and / or store of value.

The announcement comes within weeks after Minister of State for Finance Arjun Ram Meghwal stated the use of virtual currencies is not authorized as a means of exchange by the RBI, and after Deputy Governor Shri R. Ghandi suggested that confidence will only be placed in a virtual currency issued by an authority.

Still, virtual currencies are used by some criminals as it is a means of exchange.

Whenever a person wishes to buy Bitcoin in Nigeria, they look through a list of sellers and select one that has the requirements they can fulfill, such as using iTunes gift cards to buy the virtual currency.

The liquidity and utility of KickCoins will be provided by the possibility of using this virtual currency on the KICKICO platform as payment for various services.

Virtual currency was also described as asset - like values to be used in exchange for other items and transferred via electronic data processing.

Speaking to the Financial Times, Mastercard executive Ari Sarker says that the company is «very happy» to consider helping the use of cryptocurrencies, but only as long as those virtual currencies are issued by central banks.

Certain Products may provide you with the opportunity to license a variety of virtual items such as virtual currency, virtual goods, additional levels and content packs («virtual items») that can be used while playing the Product.

You can just opt to use a virtual currency as credit, that you can manage and distribute any way you like.

As we mentioned, while new episodes of our various series are unlocked using virtual currency, this currency can be earned for free with regular usage.

Having been a software developer myself for nearly two decades, I would ask that you allow me to paraphrase Khalaf's remarks: if you sell something using your app (be it virtual currency or physical merchandise) people will want to buy it, users are loyal but expectations are high (meaning you can create life - long customers if you support your app, and update it regularly to offer the features and functionality your users demand), and larger devices mean more screen real estate to play with (but not as much as tablets can offer, and you don't want to alienate users still stuck in a sub-5-inch-screened world).

If the company is able to use the currency for virtual and digital goods, surely it's capable of using it for real - world ones as well.

The 500 Amazon Coins, valued at $ 5, can be used to buy apps from the Amazon Appstore as well as in - app items, along with an incentive to continue buying packs of the virtual currency instead of usual cash transactions.

In short order, the customers» accounts were used to set up new Amazon accounts as well as accounts at Coinbase.com, a service that facilitates the purchase of virtual currencies like Bitcoin.

TORONTO — The virtual currency Bitcoin has earned a reputation as a plaything for libertarians or a tool used to covertly buy drugs on the Internet.