Bitcoin and e-commerce, Shopify’s announcement that can shake the SEC.

Will regulators roll on the floor tapping their feet and fists when they find out they are being paid Bitcoin will be integrated into the Shopify e-commerce platform? According to lawyer Kevin Thompson, that could be the case. But will it slow down the adoption of cryptocurrencies? This remains to be proven.

BTC on Shopify, good news for cryptocurrencies?

The news could have had a bomb effect on the crypto ecosystem. But that doesn’t mean the entire Bitcoin community is unanimously optimistic. Indeed, issues that combine regulation and mass adoption are likely to arise.

Researcher Matt Ahlborg, on the other hand, is on the side of the optimists. He also posted a tweet about this integration. According to him, this announcement is a great event in the history of BTC. Indeed, this integration will be one of the first initiatives to exchange bitcoin for material good without going through KYC.

Tweet from Matta Ahlborga now!

“What Jack Mallers is really saying is that you will soon be able to convert your Bitcoins into the real world without going through KYC exchanges. If true, this is actually an extremely significant and important development for Bitcoin. »

Matt Ahlborg

For those who don’t know, Jack Mallers is the CEO of Zap. It is a bitcoin investment and payment company that performs transactions on the Lightning Network

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Pay in bitcoins, yes, but after taxes

However, lawyer Kevin Thomspon had reservations. Because, according to him, this event, although important, could present some administrative problems for the Shopify platform.

The main trap, according to the lawyer, is that buying goods in bitcoins risks “frustrating” regulators. Because this type of transaction will allow bitcoiners to get rid of their cryptocurrencies without going through the tax box.

Second, this event could encourage large stores to follow this initiative. Because e-commerce sites are their main competitors. Thompson therefore expects an administrative and tax storm for Shopify by regulators.

Lawyer Kevin Thompson spoke about the impact of bitcoin on Shopify
Tweet from lawyer Kevin Thompson

“This will really frustrate regulators. The tweet below is obvious: if you can easily spend BTC through Shopify stores, it will be easy for people to throw BTC “off the net” and avoid taxes. Regulators are likely to respond by creating declarative requirements for Shopify. »

This was also reported by other Twitter users. They also believe the government will take steps to try to regulate the purchase of physical goods in cryptocurrencies. However, they also believe that regulation will not be able to stop the wagon. In this case, it would be desirable for some to set a tax exemption threshold. This would allow as many people as possible to take advantage of this integration and become familiar with cryptocurrencies.

Although the regulation may try to establish tax and administrative procedures on Shopify. He is not the only one who addresses payment solutions in BTC. Since when The head of eBay also hinted at the integration of crypto payments on his platform. Which would also be a good vector for mass adoption of cryptocurrencies. How eBay and Shopify – in all sites built on the platform – generate millions of dollars in daily transaction volume.

If at the end of this article you are still not convinced of the vital importance of taking over bitcoin and cryptocurrencies, let’s say goodbye friends: nothing and no one will succeed! If that doesn’t work, don’t wait any longer to prepare for the future by registering on the Binance platformAbsolute standard in the sector (affiliate link).

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