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UAE endorses crypto for salary payments
The post UAE endorses crypto for salary payments appeared on BitcoinEthereumNews.com. The UAE just flipped the script on crypto by officially recognizing it as a valid way to pay salaries. The Dubai Court of First Instance dropped a bombshell ruling that lets employers pay workers in cryptocurrency. It’s a major change from the court’s decision last year when a similar claim got shut down because the employee couldn’t nail down the exact value of the crypto he was owed. In this latest case, an employee dragged their employer to court over unpaid wages, wrongful termination, and some other beef related to their employment contract. The contract clearly stated the worker’s monthly salary in fiat, with a bonus of 5,250 EcoWatt tokens—a type of cryptocurrency. But the employer decided not to pay up the crypto portion for six months, triggering a legal battle that’s now paved the way for crypto payments to be recognized by the court. Not so fast with the crypto Back in 2023, the same Dubai court wasn’t as crypto-friendly. Another employee, who was also supposed to get paid in EcoWatt tokens, tried to get the court to enforce the payment. But the court wasn’t having it. The employee couldn’t show exactly how much those tokens were worth in cold, hard cash, so the court refused to award the amount in crypto. Here’s the deal: The court wanted solid proof—like, how much those tokens were worth in fiat currency before they’d even think about making the employer pay. They basically said, “Show us the money… or at least tell us how much money we’re talking about.” Without that, the court wasn’t going to enforce the payment in EcoWatt tokens. The court’s ruling acknowledged the employment contract, noted the promised salary, but because the employee didn’t provide any solid proof of the crypto’s value, they didn’t force the employer to…
The post UAE endorses crypto for salary payments appeared on BitcoinEthereumNews.com.
The UAE just flipped the script on crypto by officially recognizing it as a valid way to pay salaries. The Dubai Court of First Instance dropped a bombshell ruling that lets employers pay workers in cryptocurrency. It’s a major change from the court’s decision last year when a similar claim got shut down because the employee couldn’t nail down the exact value of the crypto he was owed. In this latest case, an employee dragged their employer to court over unpaid wages, wrongful termination, and some other beef related to their employment contract. The contract clearly stated the worker’s monthly salary in fiat, with a bonus of 5,250 EcoWatt tokens—a type of cryptocurrency. But the employer decided not to pay up the crypto portion for six months, triggering a legal battle that’s now paved the way for crypto payments to be recognized by the court. Not so fast with the crypto Back in 2023, the same Dubai court wasn’t as crypto-friendly. Another employee, who was also supposed to get paid in EcoWatt tokens, tried to get the court to enforce the payment. But the court wasn’t having it. The employee couldn’t show exactly how much those tokens were worth in cold, hard cash, so the court refused to award the amount in crypto. Here’s the deal: The court wanted solid proof—like, how much those tokens were worth in fiat currency before they’d even think about making the employer pay. They basically said, “Show us the money… or at least tell us how much money we’re talking about.” Without that, the court wasn’t going to enforce the payment in EcoWatt tokens. The court’s ruling acknowledged the employment contract, noted the promised salary, but because the employee didn’t provide any solid proof of the crypto’s value, they didn’t force the employer to…
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