CryptoSalary
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In a landmark ruling, the Dubai Court of First Instance has recognized the legality of paying salaries in cryptocurrency under employment contracts.
In a significant legal development, the Dubai Court of First Instance has recognized the validity of paying salaries in cryptocurrency, specifically a digital token, marking a shift in the UAE's judicial stance on virtual currencies.
The case, numbered 1739 of 2024 (Labour), involved an employee who sued their employer for unpaid wages, including a portion in the digital tokens, as well as wrongful termination compensation and other benefits. The court ruled in favor of the employee, ordering the employer to pay the owed salary in the digital tokens, citing the employer's failure to provide evidence of payment.
This decision represents a departure from the court's previous stance in 2023, where a similar claim was denied due to the employee's inability to provide a clear valuation of the cryptocurrency involved. The 2024 ruling demonstrates a more progressive approach to integrating virtual currencies into the UAE's legal and economic framework, emphasizing the importance of upholding clear contractual agreements. The court's reliance on Article 912 of the UAE Civil Transactions Law and Federal Decree-Law No. (33) of 2021 in both judgments shows the consistent application of legal principles in wage determination, despite the evolving interpretation of these provisions.
#Dubai #cryptosalary #cryptoonthemove #embracecrypto
$BTC
In a landmark ruling, the Dubai Court of First Instance has recognized the legality of paying salaries in cryptocurrency under employment contracts.
In a significant legal development, the Dubai Court of First Instance has recognized the validity of paying salaries in cryptocurrency, specifically a digital token, marking a shift in the UAE's judicial stance on virtual currencies.
The case, numbered 1739 of 2024 (Labour), involved an employee who sued their employer for unpaid wages, including a portion in the digital tokens, as well as wrongful termination compensation and other benefits. The court ruled in favor of the employee, ordering the employer to pay the owed salary in the digital tokens, citing the employer's failure to provide evidence of payment.
This decision represents a departure from the court's previous stance in 2023, where a similar claim was denied due to the employee's inability to provide a clear valuation of the cryptocurrency involved. The 2024 ruling demonstrates a more progressive approach to integrating virtual currencies into the UAE's legal and economic framework, emphasizing the importance of upholding clear contractual agreements. The court's reliance on Article 912 of the UAE Civil Transactions Law and Federal Decree-Law No. (33) of 2021 in both judgments shows the consistent application of legal principles in wage determination, despite the evolving interpretation of these provisions.
#Dubai #cryptosalary #cryptoonthemove #embracecrypto
$BTC
🔥 "Would You Take Your Salary in Crypto?" 🚀
Imagine waking up on payday, checking your phone, and instead of dollars or rupees, you see Bitcoin, Ethereum, or USDT in your wallet. 💰📲 Sounds futuristic? It’s already happening!
🔹 Big companies like Google, Twitter, and even governments are exploring crypto payrolls.
🔹 Athletes, influencers, and remote workers are already getting paid in Bitcoin.
🔹 Some countries have ZERO tax on crypto salaries—more money stays in your pocket! 💸
💡 But here’s the real question: Would you take the risk?
✅ Pros: Faster transactions, borderless payments, potential growth 📈
❌ Cons: Market volatility, tax uncertainty, limited spending options 🤯
If you got your salary in Bitcoin today, would you HODL or cash out? 🤔💭
🔥 Drop your thoughts in the comments! Would you accept your salary in crypto? 👇
#Cryptosalary #FutureOfMoney #Finance
Imagine waking up on payday, checking your phone, and instead of dollars or rupees, you see Bitcoin, Ethereum, or USDT in your wallet. 💰📲 Sounds futuristic? It’s already happening!
🔹 Big companies like Google, Twitter, and even governments are exploring crypto payrolls.
🔹 Athletes, influencers, and remote workers are already getting paid in Bitcoin.
🔹 Some countries have ZERO tax on crypto salaries—more money stays in your pocket! 💸
💡 But here’s the real question: Would you take the risk?
✅ Pros: Faster transactions, borderless payments, potential growth 📈
❌ Cons: Market volatility, tax uncertainty, limited spending options 🤯
If you got your salary in Bitcoin today, would you HODL or cash out? 🤔💭
🔥 Drop your thoughts in the comments! Would you accept your salary in crypto? 👇
#Cryptosalary #FutureOfMoney #Finance
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