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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
$SCR is showing strong momentum today, surging +14.75% and reaching a high of $0.283. The 15-minute chart highlights a bullish trend with consistent higher lows and breakout candles. After a slight pullback, buyers are re-entering with solid volume — a clean break above $0.283 could open the door for more gains.
Entry Range: $0.278 – $0.280
Target 1: $0.287
Target 2: $0.295
Final Target: $0.305
Stop Loss: $0.272
Leverage Suggestion: 3x–5x for breakout scalping
This setup is heating up. If $0.283 is breached convincingly, expect swift upside movement. Watch volume closely, enter with precision, and trail your profits smartly.
#DiversifyYourAssets #PowellRemarks، #CryptoOnTheMove #NextCryptoETFs $SCR
Entry Range: $0.278 – $0.280
Target 1: $0.287
Target 2: $0.295
Final Target: $0.305
Stop Loss: $0.272
Leverage Suggestion: 3x–5x for breakout scalping
This setup is heating up. If $0.283 is breached convincingly, expect swift upside movement. Watch volume closely, enter with precision, and trail your profits smartly.
#DiversifyYourAssets #PowellRemarks، #CryptoOnTheMove #NextCryptoETFs $SCR
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