Top Tech news around the globe you need to know this morning

The news about Oculus VR’s acquisition by Facebook swirling all over medias since its acquisition on Tuesday – leaving some potential Oculus gamers happy, while others unhappy about the deal.

Well, this was for Oculus, here are some other significant tech industry news updates:


IRS’s big ruling on Bitcoin

Internet Revenue service has announced that world’s largest crypto currency Bitcoin will now be treated as property leaving Americans to pay for tax while mining Bitcoin or gaining any capital gains from using it while making purchases.

Moreover, wages paid to employees using virtual currency are taxable to the employee and must be reported by an employer. Should India follow?


Instagram’s 200 million instagrammers milestone

Online photo and video sharing networking service Instagram has reached a milestone of over 200 million Instagrammers capturing and sharing their lives every month – with an average of 60 million photos being shared every day on the platform.

“To the 50 million of you who’ve joined in the last six months, welcome. We’re so glad you’re here. And from our team to all 200 million of you, thank you for making Instagram great. We can’t wait to see what you’ll create next,” said the company in a statement.


Intel acquires wearable technology firm Basis Science

Basis science, another wrist worn technology device that allows users to track their health metrics has been acquired by Intel. Financial terms of the deal were kept undisclosed by the companies.

The acquisition does not seem like a natural fit for Intel, which is known primarily as a producer of chips – and moreover seems like a simple effort of staying on top of trends and emerging product categories. The Basis band will continue to be sold through existing retail channels.

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