The U.S. Supreme Court has agreed to take up a South Dakota case this term that could reset the balance between online and physical store sellers by requiring taxation of goods sold by out-of-state merchants. However the high court rules, it will have a dramatic effect on retail and ecommerce taxation for years to come.
Overstock.com announced that it has sold over $1 million in product to Bitcoin users since the online shopping site started accepting the cryptocurrency on Jan 9. According to Overstock.com, of the over 4,300 Bitcoin customers that made purchases with the site since January, almost 60% are new customers.
While Overstock.com announced last week that it has begun accepting Bitcoins as an online payment option, not all merchants are embracing the crypto-currency. The Chinese ecommerce platform Alibaba Group said in a statement that it has banned the controversial payment option from all its Taobao marketplaces.