News & Analysis as of

Wage and Hour Bitcoin

Morgan Lewis - ML Benefits

DOL Calls for ‘Extreme Care’ Before 401(k) Plans Dive into Cryptocurrency Investments

Cryptocurrency investing has experienced a tidal wave of popularity since the fabled genesis of Bitcoin in 2009. This growth has been fueled by “extreme” investment returns (despite “extreme” volatility) and innovative means...more

Proskauer - Law and the Workplace

Can We Pay Our Employees in Cryptocurrency? A 2022 Update.

Shortly after his election in November 2021, New York City Mayor Eric Adams announced that he would accept his first three paychecks in Bitcoin. On January 20, 2022, the day before his first paycheck from the City was...more

Fisher Phillips

Forecast: January 2022 Edition

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Welcome to FP Forecast, a monthly outlook featuring Fisher Phillips thought leaders providing their insights into what employers can expect in 2022 and beyond. By following along each month, you’ll be in the best position to...more

Fisher Phillips

Cryptocurrency Clamor: Paying Employees in Bitcoin Has Reached the Mainstream

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It’s been a big year for Bitcoin. Between hitting an all-time high trading price over $63,000, landing on the balance sheets of major companies, and being recognized as inevitable by financial institutions that once tried to...more

Robins Kaplan LLP

Financial Daily Dose 2.19.2021 | Top Story: UK High Court Deems Uber Drivers “Employees”

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Britain’s Supreme Court dealt Uber a blow this morning when it ruled that “drivers must be classified as workers entitled to a minimum wage and vacation time.” The decision—a disaster for Uber in a dispute that reaches back...more

Robins Kaplan LLP

Financial Daily Dose 2.9.2021 | Top Story: Tesla Pours $1.5B into Bitcoin, Prompts Crypto Surge

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Tesla dropped an incredible $1.5 billion on bitcoin on Monday “and signaled its intent to begin accepting the cryptocurrency as a form of payment, sending prices to a record after the vote of confidence from the EV leader and...more

Robins Kaplan LLP

Financial Daily Dose 10.23.2020 | Top Story: CA Appeals Court Tells Uber and Lyft to Treat Drivers as Employees

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A California appeals court has affirmed a lower court decision requiring Uber and Lyft to “treat their California drivers as employees, providing them with the benefits and wages they are entitled to under state labor law.”...more

McDermott Will & Emery

Salary Payment in Tokens: German Labour Law Considerations

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More companies are considering paying their employees in tokens such as Bitcoin. The Japanese GMO group and the German Digitalmagazin t3n, for example, have announced that they plan to pay their employees in Bitcoin. This...more

Latham & Watkins LLP

Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies

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How should broker-dealers, investment advisers, and other registered firms in the US, UK, and Hong Kong address cryptocurrencies in their compliance programs? Originally published on bloombergbna.com on April 16, 2018. ...more

Proskauer - Blockchain and the Law

Multi-Billion Dollar Japanese Tech Conglomerate to Process Salaries in Bitcoin

GMO Internet Inc. (“GMO”) is a Japanese-based tech conglomerate with over 4,700 full-time employees and a market cap of over 200 billion yen. Since May 2017, the organization has taken steps to enter the cryptocurrency space,...more

Proskauer - Blockchain and the Law

Legal Ramifications of Paying Employees with Cryptocurrency

As cryptocurrencies surge in value and enter mainstream consciousness, an increasing number of employers may consider compensating their employees with bitcoin, ether, or other cryptocurrencies. While a cryptocurrency...more

Fisher Phillips

Champing At The Bit: Can You Pay Your Workers In Bitcoin?

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For the first time, a large, publicly traded company—Japanese web-business GMO Internet—has announced that it will soon offer its employees the chance to receive their pay in the world’s most popular cryptocurrency: bitcoin....more

Fisher Phillips

"Daily Pay" and Cryptocurrency: Will Advances in Technology Change How Wages Are Paid?

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Technology seems to be advancing faster than we can keep up. These advances impact the employer community as well—even regarding basic things such as how, when, and in what manner wages are paid. Take two recent examples...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

Foley & Lardner LLP

Monopoly Money or the Real Deal? Exploring the Possibility of Paying Employees in Bitcoin

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Bitcoin, the most popular form of digital or crypto-currency, is gaining traction as an investment vehicle and a way to pay for goods and services. More than 100,000 merchants worldwide now accept Bitcoin, allowing consumers...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Q2 saw US growth hit the 3% mark for the first time in two years, besting last quarter’s lackluster showing by almost 2%. The report helped boost stocks across the board....more

Seyfarth Shaw LLP

The future of work: when will I be able to pay employees in Bitcoin?

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We have been watching with close interest the exponential expansion of crypto-currencies. These instruments, such as Bitcoin, Ethereum and Litecoin, are methods of secure, electronic transfer of value between individuals...more

WilmerHale

In Case You Missed It: Launch Links - September, 2016 #4

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Some interesting links we found across the web this week: The Hacking Law That Can’t Hack It - For 30 years and counting, courts have struggled with the vagaries of the Computer Fraud and Abuse Act, a federal law...more

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