Published on September 2nd, 2015 | by bitcoin0
Subpoenas for BitPay On Regular Basis
That being said, subpoenas for a Bitcoin payment processor are a clear sign of why centralized services are not the answer.
Bitcoin transactions are sent to addresses generated by and belonging to BitPay; and the conversion to fiat currency is done through exchange and bank accounts belonging to BitPay as well.
Merchants receive earnings in Bitcoin – despite being converted by BitPay to fiat currency – which is not taxable [yet] in most countries.
Finding Alternative Ways to Accept Bitcoin Payments
One way to fight the mounting number of subpoenas plaguing BitPay and other Bitcoin payment processors around the world, is by making merchants accept virtual currency payments without relying on centralized services.
That being said, the services offered by Bitcoin payment processors goes far beyond enabling Bitcoin payments.