The Internal Revenue Service (IRS) has updated the main form individual U.S. taxpayers use to report their income to include a question about cryptocurrencies. Following the release earlier this week of the IRS’s long-awaited guidance for reporting crypto-related income, the IRS on…
Two Senate Democrats are urging three payment processing companies to reconsider their involvement with the Libra cryptocurrency project envisioned by Facebook Inc. and a coalition of other groups. Libra poses risks not only to global financial systems, but also to the companies’…
Two Venezuelan companies have partnered to release a cryptocurrency debit card and point-of-sale (PoS) system. “Crypto transfer device” supports four currencies According to a social media release by state-sanctioned exchange CriptoLAGO on Oct. 1, the joint offering with so-called “investment cryptobank” Glufco is already taking orders.…
Ohio, which became the first U.S. state to allow taxes to be paid in bitcoin last November, is no longer accepting cryptocurrency tax payments. Ohio Treasurer Robert Sprague announced Wednesday the immediate suspension of the OhioCrypto.com website, which allowed businesses in the…
In what seems like quite the endorsement for cryptocurrencies, the chairman of the global provider of secure financial messaging services, Swift, said that cryptocurrencies are causing an extraordinary change in the financial industry. He also mentioned Libra, the cryptocurrency created…
Payment solution BitPay will soon accept ethereum, the second-largest cryptocurrency by market capitalization, according to an announcement from the company today. With BitPay, subscribing businesses will be able to pay in bitcoin, bitcoin cash, and ether, along with a handful of stablecoins. Launched in 2011, BitPay…
San Francisco (CNN Business)Apple may not be fully on the crypto bandwagon like other tech companies, but it is keeping an eye on digital currency. “We’re watching cryptocurrency,” Jennifer Bailey, vice president of Apple Pay, recently told CNN’s Chief Business Correspondent Christine…
A Venezuelan pharmacy franchise will now accept dash cryptocurrency payments, through an integration with Panda Exchange’s proprietary payments system. The Farmarket retail chain is piloting a dash-enabled point of sale system, XpayCash, that will allow customers to make instant cryptocurrency transactions, the…
Commerzbank, the second-largest bank in Germany, is exploring a blockchain-based payments solution that won’t require human intervention, according to an announcement Thursday. The bank has already completed testing the first use case of the solution, where it issued euros on a blockchain…