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Wage and Hour Digital Currency

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

China’s Ban on Crypto-Related Transactions Should Remind Employers That Volatility is a Feature, Not a Bug

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The People’s Bank of China (PBOC) released a September 24 statement declaring that all cryptocurrency-related transactions will be deemed illegal and that foreign exchanges are banned from providing services to residents in...more

Fisher Phillips

Cryptocurrency Clamor: Paying Employees in Bitcoin Has Reached the Mainstream

Fisher Phillips on

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 2.9.2021 | 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

McDermott Will & Emery

Salary Payment in Tokens: German Labour Law Considerations

McDermott Will & Emery on

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

Fisher Phillips

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

Fisher Phillips on

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

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

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

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

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