Considering paying city employees in bitcoin
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As cryptocurrency is gaining popularity, an increasing number of employers are starting to consider paying salaries to their employees in cryptocurrency. Although salary payment in cryptocurrency may attract tech-savvy talents, there are legal implications which employers should consider before implementing such remuneration schemes. Considering paying its employees bitcoin Significantly, that willingness to engage with digital assets includes the much-heralded spot Bitcoin exchange-traded fund (ETF). The financial instrument — which allows investors to trade Bitcoin on a traditional exchange at any time throughout the day — is expected to bring much-needed institutional cash into the industry.

Is considering paying city in bitcoin

The information in this article reflects our understanding of existing legislation, proposed legislation, rulings and other tax law, as at the date of issue. In some cases, the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Home Solutions This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

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Considering paying its employees bitcoin
Creditable Coverage Notice How Does a Cryptocurrency Transaction Work? It’s not all roses. Cryptocurrency is still unfamiliar to most, not widely accepted, and fraught with risks. Before you rush into taking it as payment, consider the following.

Considering paying city employees in bitcoin

A new central clearing rule looks set to shake the foundations of the $27 trillion Treasury market at one of the most challenging times for the U.S. government and investors. 6 Sensitivity analysis If someone is a statutory director or employed under a UK employment contract and they are a UK taxpayer then the method of payment is largely irrelevant because an income tax (PAYE) liability applies to it, whether it is ‘money’ or ‘money’s worth’. Cryptocurrency is capable of being converted into traditional money and therefore it is defined as ‘money’s worth’ by HMRC.

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