Your new post is loading...
Your new post is loading...
GETTY The IRS has released a draft of Form 1099-DA, Digital Asset Proceeds From Broker Transaction. The form is the next step in the agency’s efforts to bolster crypto tax reporting and follows proposed regulations published last year. The IRS has offered a glimpse of the future of crypto reporting. The agency has released a…
Blockchain forensics enables unprecedented surveillance into people’s financial lives, with profound implications for privacy rights. Sophisticated chain analysis tools can de-anonymize users and map entire transaction histories, often without accountability, transparency, or contestability. This level of invasive tracking should deeply concern those who care about privacy. However, it is unclear how accurate many of these tools are.
2023 was a standout year for Bitcoin. The asset is up over 150% year-to-date in U.S. dollar terms. But aside from price alone, there were many significant developments that impacted Bitcoin in historic ways. This year saw epic banking collapses, fake news scandals, record high hashrates, rising transaction fees, new accounting rules, the election of a pro-Bitcoin president in South America, and further confirmation of Bitcoin mining being beneficial for the environment.
Binance, a prominent cryptocurrency exchange, has announced the successful integration of the Bitcoin Lightning Network for BTC withdrawals and deposits. In a blog post on July 17, Binance confirme…
The business world is driven by buying and selling transactions—also known as commerce. Today, the business world sees technological advances and societal changes driving an e-commerce boom. Amazon…
Banking habits continue to evolve as consumers are given more and more choices of where and how they bank. While traditional banking still has its loyal fanbase, it’s hard to compete with the conve…
Binance, the world’s largest cryptocurrency exchange, has processed transactions totaling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales, according to a Reuter…
Grow your brand awareness Your customers will see your brand associated with this value-add feature, whenever they shop online. Earn more from your customers By tapping into your users' online spend, you earn passive revenue on online transactions outside your app. Increase loyalty Users save money on their online shopping and earn cashback that can be spent inside your app and services.Our white-label monetization platform operates outside your app on a users’ device and there are no intrusive ads or paywalls to interrupt the user flow. A users’ cashback can be automatically converted into in-app credit or currency.We make implementing the keyboard and browser extension as simple as possible and we will support you during the integration. Plus, the SDK will operate in operate in complete anonymity and we will never process or store your customers' data.
With the explosion of digital banking during the pandemic, financial institutions (FIs) have their sights set high for growing revenues through digital channels. To do that, however, they’ll need t…
In March 2020, as Covid-19 began to spread, OpenSea founders Devin Finzer and Alex Atallah held a gut-check phone call. Their five-person startup had built a platform on which users could create, buy and sell all sorts of nonfungible tokens (NFTs)—computer files used to track ownership of unique digital assets like art and music on a ledger known as a blockchain. Yet 26 months after going live, they had just 4,000 active users doing $1.1 million in transactions a month, which translated (given OpenSea’s 2.5% sales commission) to a paltry $28,000 in monthly revenue.
The $40 billion deal to buy the semiconductor businesses that helps power smartphones, tablets and countless other devices from SoftBank was announced in September 2020 but now faces a gauntlet of antitrust reviews to be approved.
Banks are nudging Visa to change the way it processes some Apple Pay transactions, according to people familiar with the matter. According to people familiar with the matter, banks are pressing Vis…
|
Payment apps have come under scrutiny by lawmakers and regulators as their usage skyrockets. It only takes a tap to instantly send money to friends and family. Customers also use them to quickly buy goods online. That ease of use has 80% of Americans using mobile payment apps, according to a recent survey by NerdWallet. What’s more, 50% of those respondents said they use these apps at least once a week. Transaction volume across all payment app service providers in 2022 was estimated at about $893 billion, according to the Consumer Financial Protection Bureau. That agency also estimates tap-to-pay transactions from digital wallets will soar by 150% between now and 2028.
Small-business owners prefer getting money they’re due as fast as possible–who doesn’t? But not all modestly sized companies have the in-house tech staff or the budget to hire outside services to build payment platforms into their online sites. As a workaround, a growing number of those firms are using third-party systems to accelerate some transactions up to real-time speed, paying fees similar to those charged for credit card processing, about 2 to 3 percent of the purchase value.
Bitcoin Miners Earnings Hit Record $44M Amid Difficulty and Hashrate ATH The Bitcoin mining community celebrated a milestone on November 12, as Bitcoin miners earnings reach an annual all-time high of over $44 million in block rewards and transaction fees.
Wintermute, a London-based cryptocurrency firm that trades billions of dollars’ worth of digital assets daily, lost $160 million in a hack early on Tuesday. Founder and CEO Evgeny Gaevoy says he le…
A 51% attack doesn’t mean the attacker can send BTC from your wallet or account; it only means the blockchain has been compromised, and double-spending of crypto is imminent. Blockchains like…
American Express will soon debut the first crypto rewards credit card on its network. Announced today at the Consensus cryptocurrency conference in Austin,TX the card, developed in partnership with…
Sanctions can only work if those who are supposed to enforce them understand exactly what to do so that they cannot be circumvented easily. Russia’s extensive network of Over-The-Counter (OTC…
Fraud is a growing issue for fintech companies, as bad actors are doing everything from stealing identities to exploiting the slow U.S. bank-to-bank transfer network to siphon off money. The proble…
When Robyn Mathis, a 41-year-old food production plant worker from Brunswick, Georgia, stepped off a flight to Philadelphia last June, she expected an easy passage to her destination. She was set t…
Blockchain is one of the most exciting tech trends at the moment. It is a distributed, encrypted database model that has the potential to solve many problems around online trust and security. Many people know it as the technology that underpins Bitcoin and cryptocurrencies in general. However, its potential uses are far broader, encompassing digital “smart” contracts, logistics and supply chain provenance and security, and protection against identity theft.
Remember to give a discount on the cash value of your payments. According to the industry group, the National Association of Settlement Purchasers, the maximum discount rate in the industry is 18%.…
Zcash founder Zooko Wilcox might seem like an unlikely source to challenge Bitcoin’s ‘third rail’, its controversial, expensive, yet effective method of processing transactions, but in many ways he…
|