Category: Payments
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Report: Indian Government Concerned Cryptocurrencies Could Undermine the Rupee
The Indian government panel tasked with drafting crypto regulation is reportedly worried that cryptocurrencies could destabilize the rupee if they are accepted as payments. Its concern came to light despite evidence that cryptocurrencies do not currently pose a threat to financial stability. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Impact on…
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Mastercard Fined $650M by EU for ‘Artificially’ Raising Fees
The European Union’s competition commission has handed Mastercard a €570 million euro ($648 million) fine for artificially raising payment processing fees in breach of antitrust laws, according to an online statement published on Jan. 22. Mastercard forced merchants to pay exchange fees in their countries of residence, forestalling their access to banks with lower fees…
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Crypto Cards Are Legal in Russia, According to the Finance Ministry
Using cryptocurrency debit cards to pay for goods and services does not contradict Russian law, Deputy Finance Minister Alexei Moiseev was quoted as saying by local media. He believes these transactions are legal as the seller receives the money in Russian rubles. Also read: No Reason to ‘Bury’ Cryptocurrencies, Russian PM Medvedev Says Buying…
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The Daily: Wallet Brings Bitcoin to Facebook, Fortnite Store Accepts Crypto
In this edition of The Daily, crypto wallet Lite.im, which is integrated with popular messengers, has added support for BTC. Also, the online store selling Fortnite merchandise now accepts monero and esports company Unikrn has launched a crypto betting platform using technology from Bittrex. Also read: Best Selling Authors Introduce Bitcoin to Followers Crypto…
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Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic
Payoneer chief executive officer Scott Galit has dismissed the idea of a single global currency like bitcoin as unrealistic. Galit argued that he doesn’t believe countries like the U.S. will ever allow citizens to pay taxes in bitcoin because of too much volatility in the price of the cryptocurrency. Also read: Former Mt. Gox CEO Says…
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Brazilian Supermarket Chain Now Accepts Payment in Bitcoin
A Rio de Janeiro supermarket chain, Oásis Supermercados, is now accepting payment in bitcoin core, bitcoin cash and litecoin. It joins a growing number of Brazilian businesses in construction, ecommerce, hospitality and transport, already taking payment in cryptocurrency. Also read: Pan-African Bitcoin Exchange Kubitx Goes Live, Launches OTC Wallet Shopping the Cryptocurrency Way Beginning Dec. 18,…
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Study Finds Less Than 40% of BTC Addresses Are Economically Relevant
The number of unique addresses on the Bitcoin Core (BTC) network is constantly growing but only 37 percent of them are “economically relevant,” according to a recent study by Chainalysis. The vast majority of them – 86 percent – are controlled by service providers and the rest are used by private investors. Another key finding…
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British Lawmaker Proposes Tax and Utility Bill Payments in Bitcoin
U.K. lawmaker Eddie Hughes has proposed that taxpayers should have the option to pay council tax and utility bills in cryptocurrencies such as BTC. The 50 year-old conservative legislator for the Walsall North constituency said the move would place the country at the forefront of digital currency adoption in Europe. Also read: Gibraltar Exchange Obtains Insurance…
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Eight Reasons to Use Cryptocurrency Payments in 2019
This article on cryptocurrency payments was written by Thomas Highwater, who is an avid fan of all things crypto-related. Mr. Highwater teaches high-school level robotics and programming. *** While there is a growing number of fiat based-payment processors with a variety of practical tools and methods of payment, adding cryptocurrency payments into the mix provides…
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US State of Ohio Accepts Bitcoin for 23 Types of Taxes
The U.S. state of Ohio has set up a cryptocurrency payment portal and reportedly starts accepting payments in bitcoin for 23 types of taxes this week. “Ohio has become the first state in the United States, and one of the first governments in the world, to accept cryptocurrency,” the Treasurer’s Office wrote. Also read: Indian Supreme…