legal tender

noun

Definition of legal tender

: money that is legally valid for the payment of debts and that must be accepted for that purpose when offered

Synonyms for legal tender

Synonyms

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Examples of legal tender in a Sentence

Soon after France adopted the euro, the French franc ceased to be legal tender. coins and bills are considered legal tender, but postage stamps are not
Recent Examples on the Web What if that city only accepted cryptocurrency as legal tender? Carolina A. Mirandacolumnist, Los Angeles Times, 14 May 2022 It’s the largest volume of Bitcoin the Latin American country has purchased since Bukele made the cryptocurrency legal tender last September. Nicholas Gordon, Fortune, 10 May 2022 More retail investors bought in using Cash App or Robinhood; a growing number of businesses accepted bitcoin as payment for goods and services; and El Salvador adopted it as legal tender. Khristopher J. Brooks, CBS News, 9 May 2022 Several traders spoke to key events that have been helping provide tailwinds for bitcoin prices, including El Salvador’s recent decision to make the digital currency legal tender. Charles Bovaird, Forbes, 11 Oct. 2021 El Salvador lawmakers on Wednesday approved President Nayib Bukele's Bitcoin Law, making the Central American nation the first in the world to make the cryptocurrency legal tender. Harold Maass, The Week, 10 June 2021 The Central African Republic is following in the footsteps of El Salvador by approving Bitcoin as legal tender. Chloe Taylor, Fortune, 28 Apr. 2022 Supporters have argued that adopting bitcoin as legal tender will help Salvadorans avoid costly fees on remittances from abroad, which totaled nearly $6 billion last year — around a quarter of GDP. Charles Riley, CNN, 8 Sep. 2021 On September 7, 2021, El Salvador became the first country globally to adopt bitcoin as legal tender. Oluwaseun Adeyanju, Forbes, 12 Apr. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'legal tender.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of legal tender

circa 1730, in the meaning defined above

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Time Traveler for legal tender

Time Traveler

The first known use of legal tender was circa 1730

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Dictionary Entries Near legal tender

legal-size

legal tender

legal term

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Statistics for legal tender

Last Updated

20 May 2022

Cite this Entry

“Legal tender.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/legal%20tender. Accessed 25 May. 2022.

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More Definitions for legal tender

legal tender

noun

Legal Definition of legal tender

: money that is legally valid for the payment of debts and that must be accepted for that purpose when offered

More from Merriam-Webster on legal tender

Nglish: Translation of legal tender for Spanish Speakers

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