Will PayPal’s crypto offer turn into a tax nightmare?
Cointelegraph
Published Oct 21, 2020 10:59PM ET
Updated Oct 22, 2020 12:40AM ET
The news that payments company PayPal will support cryptocurrencies has given the industry a major boost — but there are tax implications that are little understood by crypto noobs.
PayPal users will soon be able to use digital assets as a funding source for purchases at its 26 million merchants worldwide. The company has almost 350 million active users worldwide and Alex Mashinsky, the CEO of crypto lending platform Celsius, has predicted the integration could result in “millions of new users” getting into crypto.
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Written By: Cointelegraph
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