Russian companies will be fined for paying salaries in cryptocurrency

Russian authorities are tightening control over salary payments in cryptocurrency. According to current legislation, cryptocurrency is recognized in Russia as a digital asset but cannot be used as a means of payment.

This means that employers are required to pay salaries only in rubles, and any attempts to use digital currencies to pay employees' wages are considered a violation of labor legislation.

In a number of countries (USA, Japan, Switzerland, Portugal), paying salaries in cryptocurrency is allowed, but this practice is accompanied by strict tax accounting and regulation. In Russia, such a scheme is officially prohibited, and there are currently no plans for its implementation.