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Samsung Agrees To Cryptocurrency Payments

Jul 30 2018

CryptoCurrency

The Samsung C&T Corporation recently decided to allow crypto currency payments inside Samsung stores. The program has begun its trial run in the Balkan states of Estonia, Latvia, and Lithuania. Samsung mentioned it might expand this offer to other countries.

The company is currently only using the major cryptocurrencies. The formats currently accepted are Bitcoin, Litecoin, XRP, Ethereum, Steem, and Dash. Other cryptocurrencies might be too minor or volatile to be worth supporting.

The European Union Parliamentary Committee on Economic and Monetary Affairs has set a warning against the use of cryptocurrencies in commerce. These volatile assets could plummet in value over time, especially if central banks start issuing their own competing currencies.

Norbert Michel testified before the United States Congress last week. He told lawmakers that digital currency should be protected from indirect taxation. It is his view that cryptocurrency is taxed when used to purchase consumer goods. Norbert Michel works for the Heritage Foundation through the Center of Data Analysis.

SAMSUNG Accepting Crypto, Bitcoin and Crypto News

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