California fast-tracks a bill requiring eBay and Nextdoor to collect bank accounts and tax IDs from high-volume offline sellers to combat retail theft, potentially affecting e-commerce businesses.

California lawmakers fast-track a bill requiring marketplaces like eBay and Nextdoor to collect bank accounts and tax IDs from high-volume online sellers who receive payments offline. The measure, part of a legislative package to combat retail theft, aims to make it harder for thieves to resell stolen goods by tracking them down, but opponents argue it is too broad and could harm California's e-commerce businesses. The rules would apply to sellers making at least $5,000 profit and engaging in at least 200 transactions in a year.

June 11, 2024
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