Payments to periodic services, other benefits and commissions can also be paid in cryptocurrencies. The document stated that cryptocurrency is not a legal tender and that the cryptocurrency salaries taxation can only be applied to full or part-time employees, not those that are self-employed.
The crypto payments can only be part of a regular fiat wage.
Another condition that the crypto has to meet in order to be accepted for salary payment is that it must not have a lock-up period and it must be convertible into fiat currencies.
“In the current environment where crypto-assets are not readily accepted as payments for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange are not sufficiently “money-like” to be considered salary or wages.”
Also, the cryptos used as payment for salaries must work as currencies, not as securities.
“Some crypto-assets are designed to function as an alternative to fiat currency in the sense they provide a general-purpose peer-to-peer payment system. Examples are bitcoin, bitcoin Cash (BCH), bitcoin Gold (BTG), and Litecoin (LTC). Some crypto-assets are designed with other functions in addition to use as a currency, but the currency purpose is still a significant one. Ether is a common example of this. The Commissioner’s view is that payment in these types of cryptoassets (where conversion directly into a fiat currency on an exchange is possible) is sufficiently “money-like” to come within the ordinary meaning of salary or wages.”
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