AT&T, the world’s largest telecommunications company, became the first major U.S. mobile carrier to accept Bitcoin for payment.
“We’re always looking for ways to improve and expand our services,” said Kevin McDorman, vice president, AT&T Communications Finance Business Operations. “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”
The news follows a trend of increasing merchant acceptance of Bitcoin and other cryptocurrencies as a method of payment. Last week, Flexa network and its SPEDN app expanded acceptance for the top coins among some of the largest brands, including Whole Foods, Lowe’s, and Nordstrom.
Starbucks and other major companies are contemplating accepting Bitcoin independent of a crypto-specific payments processor. However, the tax treatment around BTC and capital gains is an obstacle to adoption because of the accounting burden it places on companies for small transactions.
The progress hasn’t been without setbacks. In December of 2017, Steam, a popular distribution platform for video games, stopped accepting Bitcoin because of high fees and volatility. Amazon-owned Twitch ditched Bitcoin payments this March because of “lack of demand.”
This story is in progress.
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