Do you have a long cryptocurrency but short shoes? Gucci is now accepting cryptocurrencies in some of its stores in the United States. Gucci has been accepting cryptocurrency payments at its flagship locations in the United States, including Rodeo Drive in Los Angeles, Wooster Street in New York and Las Vegas, with plans to expand the service to its directly operated stores in North America in the future. nearby.
Various digital assets will be accepted, including bitcoin, bitcoin cash, ether, bitcoin wrapper, dogecoin, shiba inu, and some stablecoins. According to the article, Gucci will convert cryptocurrency into fiat currency.
Several attempts to sell high-value things for cryptocurrency have failed due to concerns about money laundering and tax consequences for Americans. Tesla’s (TSLA) attempt to sell its cars in bitcoin failed and was quickly canceled due to the tax impact US residents would face if they liquidated their cryptocurrencies, as well as the overall cost of required anti-money laundering disclosures. Thai real estate developers originally allowed payment with cryptocurrencies, but it was banned in March when local officials raised concerns about the possibility of money laundering.
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