Industry News

  • Virtual Currency: IRS Issues Additional Guidance on Tax Treatment and Reminds Taxpayers of Reporting Obligations | Internal Revenue Service
    by George Peabody on October 11, 2019 at 8:20 pm

    “The IRS is aware that some taxpayers with virtual currency transactions may have failed to report income and pay the resulting tax or did not report their transactions properly. The IRS is actively addressing potential non-compliance in this area through a variety of efforts, ranging from taxpayer education to audits to criminal investigations. For example,

  • Facebook’s Libra Association Crumbling As Mastercard, Stripe, and EBay Exit
    by George Peabody on October 11, 2019 at 8:16 pm

    “Mastercard, eBay, and Stripe have all withdrawn from the Libra Association, dealing a major blow to Facebook’s plans for a distributed, global cryptocurrency. The withdrawals were first reported by the Financial Times and Bloomberg . Mastercard, eBay, and Stripe backed out just one week after PayPal (eBay’s former parent company) withdrew from the association .

  • Portugal Cautious About Risks Posed by Facebook’s Libra
    by George Peabody on October 11, 2019 at 6:07 pm

    “Portugal’s Secretary of State for Finance raised concerns about Facebook’s digital currency Libra on Friday, stating that it should not circulate until the risks it could pose for the financial system are addressed. “It is clear from the outset that it is a high-risk phenomenon with systemic implications,” Ricardo Mourinho Felix said at a conference.

  • Uber Acquires Cornershop, a Grocery Delivery Start-Up
    by George Peabody on October 11, 2019 at 5:59 pm

    “Uber has acquired a majority stake in the grocery delivery start-up Cornershop for an undisclosed sum, the company announced on Friday, as it seeks to build its food delivery business. The company has looked to expand beyond ride-hailing, particularly since its troubled debut on the public markets in May. Although the growth of its core

  • Instacart Shoppers Are Organizing a Nationwide Protest
    by George Peabody on October 11, 2019 at 5:56 pm

    “Instacart has long been at odds with its shoppers — the people who go to the grocery store on behalf of customers. From November 3-5, thousands of Instacart shoppers plan to protest with three demands. They want Instacart to change the default tip amount to at least 10%, ditch the service fee and commit to


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