Workers in Costa Rica can now receive their salary payment in cryptocurrency without breaking any legal law.
And this is because certain provisions in the national legislation now allow companies to pay their workers not only with fiat money but also with goods, and some legal experts believe cryptos can fit in this category.
The country’s legislation allows employers to partly remunerate their staff with goods that are not currency, as long as the legal minimum wage is paid in money.
Cryptos in Costa Rica Can Be Goods, Assets, and Quasi-Money
According to Rolando Perlaza who is working at Nassar Abogados, a prominent law firm in Central America, he said, “This is a trend that could take hold in the country, this type of payment would in no way replace traditional or liquid cash. It would rather become an incentive for the workers, who could decide if they accept these currencies as payment for their services.”
Costa Rica is gradually becoming a crypto home as many merchants and other businesses, including many hotels and companies from the tourism industry, accepting cryptocurrencies as a legitimate payment method. Costa Rica, which has remained relatively open towards business ventures in the crypto space, has also seen a number of bitcoin ATMs popping up in the capital San Jose and elsewhere.
Share with us, how is it in your country? Is cryptocurrency salary payment legal?