When FTX CEO Sam Bankman-Fried (hereinafter SBF) assured depositors on Twitter on Monday that the liquidity of the third-largest cryptocurrency company was good, one could be forgiven for hearing the echoes of Bear and Lehman plaintiffs talking to CNBC to secure their respective funding sources. Their short-term lenders that their liquidity was also good, when in reality their own businesses were in their turmoil. That sense of premonition was temporarily tempered when it was announced on Wednesday that Binance, the largest cryptocurrency company on the market, would bail out FTX by absorbing it in an acquisition reminiscent of the one in which JP Morgan devoured the smaller Bear Stearns at the start of the Great Financial Crisis. But where, as in northern Italy, trade soon reappeared, we soon find all the little princes competing with each other to reduce money, a process which, despite some unsuccessful attempts by private merchants to provide a better medium of exchange, lasted the following centuries until Italy was described as the country with the worst currency and the best monetary writers. America`s problems, however, are more important than Covacha`s. Will DeSantis be able to apply similar distrust to “political pundits” in other areas of deep-seated corruption in Washington, such as foreign policy, monetary policy, and the national security state? Skepticism towards every politician is always justified. The technology is provided by SETL with Digital Asset, powered by Amazon Web Services. Swift, the global provider of financial intelligence services, is also participating in the initiative to support interoperability within the international financial ecosystem. But inevitably, the state must distinguish a legal tender in society in order to facilitate negotiations.
It is very difficult for the contracting parties to negotiate whether this or that type of “currency” is legal tender, the example of this is exchange, which is not widely used. I imagine that it is necessary to avoid capitalist society in order to use other types of money than legal tender, such as a prison, an autonomous community or isolated societies that do not. Are there examples of the use of non-legal means of payment? Is it worth considering it as one of the sweets they give you in the kiosk for more than negligible value? The issuance of money is in the hands of the State, where the State is the one that imposes the legal tender coins, which in our case is the Argentine peso. Specifically, in the daily lives of the middle class, there is a culture of disbelief in legal tender itself, because it does not create trust, because it considers it unstable and because it loses value over time, and that has a raison d`être, and that has a raison d`être, and that is inflation. I mean. The one with 100 dollars today should not be enough for anything and had a value before, because it was reflected in the purchasing power of products, for example. On the other hand, people (middle class) prefer the dollar, which is a foreign currency and that creates more confidence, also because they buy the official dollar not only in banks, but also on the black market at a higher price. In my opinion, given legal tender, the legal concept means a type of currency that a creditor cannot refuse, since the payment of debts is the clearest, but also creates uncertainty, because for a certain time and not if this continues to happen, the property could only be paid in dollars. So there are exceptions to the use of legal tender?, if we see it in this example of ownership, I think so. Legal tender is granted in certain types of currencies, making it independent of the design or amounts expressed in the currency. In certain cases, legal tender may contain equivalences with other currencies or units of account.
For example, the payment of customs duties within a country may be expressed in the major currency(s) used for international trade. In some cases, a company`s accounting may be expressed in another currency (e.g. US dollar), but the collection and payment of obligations between persons or institutions in the country can only be carried out using the national currency defined as legal tender.