Two Companies Used Crypto to Pay Taxes in Ohio, Says State Treasurer

Two businesses in the United States state of Ohio have paid taxes with cryptocurrencies, state Treasurer Robert Sprague said in a forum on Feb. 19. Ohio became the first state to allow businesses to pay taxes with cryptocurrencies like Bitcoin (BTC) in November 2018. During a forum covering policy issues facing the state, Sprague said that the treasury has only collected two receipts for tax payments using cryptocurrencies. He did not specify the specific amount of tax payments received through cryptocurrency. With that, Sprague emphasized that the Ohio state treasury…

These Video Sharing Sites Pay Content Creators in Bitcoin Cash

On Feb. 4, Bitcoin Cash (BCH) supporters caught a sneak peek at two new video platforms dedicated to the BCH ecosystem. Porn.cash and Cinema.cash give content creators the ability to publish videos and get paid in cryptocurrency. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Video Publishers and Content Creators Get Paid in BCH at Cinema Cash There’s a new BCH-fueled video service called Cinema.cash that allows users to upload content and be rewarded for posts. There are two types of revenue streams that content creators…

Winklevoss Twins to Pay Out $45,000 in Legal Fees to Charlie Shrem After New Ruling

Bitcoin (BTC) entrepreneur and advocate Charlie Shrem will receive around $45,000 in legal costs from Tyler and Cameron Winklevoss as part of an ongoing lawsuit, according to an official document filed on Feb. 7. The latest step in the lengthy legal proceedings between the former business partners, a judge at the District Court of the Southern District of New York ruled in favor of Shrem for a second time in the last three months. The Winklevoss twins had instigated an investigation and asset freeze on Shrem after a fallout over…

Binance Users Can Now Pay for Crypto With Credit Cards

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, has just made it easier for users to buy cryptocurrencies. The exchange announced Thursday that it has partnered with Israel-based payments processing firm Simplex to enable purchases with Visa and MasterCard credit cards. At launch, the exchange is supporting credit card purchase for bitcoin (BTC), ether (ETH), litecoin (LTC) and XRP. These can then be traded against up to 151 other tokens offered by the exchange. “The crypto industry is still in its early stages and most of the world’s…

Alipay and WeChat Pay Require Huobi to Remove Payment Methods from OTC Desk

Alipay and WeChat Pay reportedly requested that crypto exchange Huobi remove their payment services from its over-the-counter (OTC) trading desk, local media agency Sina reported on Jan. 25. Major Chinese digital payments providers, Alibaba’s Alipay and Tencent’s WeChat Pay, have reportedly sent legal letters to Huobi, claiming that using both their services and logos on the exchange’s OTC market is unauthorized. According to information acquired by Sina, both Alipay and WeChat Pay have not provided Huobi with its payment services, nor given it permission to use their respective trademarks. However,…

Thanks to BitWage, Companies Can Now Pay Their Workers and Taxes in Bitcoin

On January 16, 2019, BitWage announced their partnership with Simply Efficient HR, a Texas-based payroll and human resources company to enable the payment of W2 employee and payroll taxes in bitcoin or ether. This service will be available in all U.S. states as well as Puerto Rico. This comes only weeks after Ohio became the first U.S. state to accept taxes in bitcoin. Closing the Loop that Fiat Finished In their statement, BitWage spoke about closing the financial loop in the bitcoin lifecycle, which involves three stages. The first is…

New Platform Shows Ads Only On-Demand and Promises to Pay Crypto for Views

A company intends to change the ways of traditional advertising by creating a platform called WeBuy. The idea is to allow what the company calls “buyers” to decide when and how the sellers of different products can reach them on-demand. Shopper in the center   WeBuy believes that annoying online ads are one of the problems of the modern advertising market. Instead of increasing the interest of potential buyers, they get the opposite effect. The company believes its product can change the way buyers and sellers currently communicate by putting…

Monero “Mistake”—Now You Can’t Pay for Fortnite Merch with Monero

If you were excited about Friday’s news about Monero (XMR) being accepted on the Retail Row store, well, sorry to break the bad news, but according to CEO of Epic Games, Tim Sweeney, it was all a “mistake.” Oops, but also… how? Monero Mistake Over the weekend, the CEO of Epic Games—the creators of 2018’s biggest game, Fortnite—admitted that adding Monero as a payment method on the games online store was a “mistake.” And not a ‘Now that I have reflected on my actions I believe I chose the wrong course of action’ mistake,…

Overstock.com to Become First Major Firm to Pay Taxes in Bitcoin

Online retailer Overstock.com (NASDAQ:OSTK) announced that it will pay a portion of its Ohio state business taxes in Bitcoin (BTC-USD), starting from this year. By paying taxes in Bitcoin, Overstock will be become the first major U.S. company to use Bitcoin for tax payment purpoases. Overstock Bitcoin Tax Payment The retailer will pay its commercial activity taxes in Ohio this February using OhioCrypto.com, which allows taxpayers to pay state business taxes with Bitcoin. Ohio is the first U.S. state to offer a cryptocurrency payment system for state business taxes. “We…

Overstock to pay taxes in Ohio using Bitcoin

Overstock is set to be the first major company that will pay its taxes in the state of Ohio using Bitcoin. The move is possible thanks to the US state passing a law that allows individuals and companies to pay taxes using crypto. The online retail giant said the step was part of continuous efforts to promote the use of cryptocurrencies. Overstock will lead the way by paying taxes using Bitcoin Patrick Byrne, the founder, and CEO of Overstock praised Josh Mandel, the Treasury of Ohio for making the state…