Define: Currency

No, the United States only recognises the U.S. dollar as legal tender for transactions within its borders.

As a general rule, businesses are allowed to set their own payment policies, including the acceptance of specific currencies. However, it is advisable to clearly communicate these policies to customers to avoid any misunderstandings.

Different countries have varying regulations regarding the amount of currency that can be carried across their borders. It is important to research and comply with the specific rules of the countries you are travelling to and from.

Yes, most central banks and financial institutions have procedures in place to exchange damaged or torn currency for new bills. However, there may be certain conditions or limitations, so it is best to check with the specific institution.

In most countries, it is illegal to deface or write on currency, as it can be considered an act of vandalism or counterfeiting. However, some countries may have specific exceptions or allowances for certain purposes, such as artistic expression.

The legality of using virtual currencies for transactions varies from country to country. In some jurisdictions, virtual currencies are recognized as legal forms of payment, while in others, they may be subject to restrictions or even banned.

In the United States, businesses are generally required to accept payment in coins for debts, as long as the amount is within the legal tender limit. However, businesses may set their own policies regarding the acceptance of large quantities of coins or specific denominations.

In many countries, it is illegal to melt down coins for their metal value, as it can be seen as an act of defacing or destroying legal tender. However, there may be exceptions for certain coins made of non-precious metals.

Investing in foreign currency, also known as forex trading, is legal in most countries. However, it is important to comply with any regulations or licencing requirements imposed by financial authorities to ensure a legal and regulated investment activity.