Square Market Now Accepts Bitcoin

Posted by ryuzaki0 on Monday March 31, 2014 @11:00AM from the with-a-side-of-increased-fraud dept.

An anonymous reader writes "Square today announced it has added support for paying with Bitcoin. As a result, buyers can now use the digital currency to purchase goods and services on Square Market, which allows sellers to create an online storefront with online payment processing. The mobile payment company promises the experience won't feel any different for sellers and they 'don't have to change a thing, except potentially expecting new trailblazing customers and more sales.' In other words, Square wants them to be able to offer Bitcoin as a payment option without any headaches." Stripe is also adding beta support for Bitcoin as a funding source. No word from Paypal yet.

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Re:They're getting into Bitcoin NOW?!? by ShanghaiBill · 2014-03-31 11:24 · Score: 5, Interesting

the draconian new IRS regulations
The new IRS regulations say that bitcoins will be treated just like any other property, such as, say, a bushel of corn. The alternative is to treat it officially as a financial instrument, which would involve more reporting and regulation. So the IRS has simply clarified the rules in a less draconian direction.