Loading...
Market
Story
Dubai Court of First Instance Recognizes Cryptocurrency as Legal Salary Payment
Aug 17, 2024, 06:20 AM
In a landmark ruling, the Dubai Court of First Instance has officially recognized cryptocurrency as a legal form of salary payment under employment contracts. This decision marks a significant shift from the court's previous stance in 2023, where cryptocurrency payments were not accepted due to valuation concerns. The ruling emerged from a case involving an employee who had not received 5,250 EcoWatt tokens as salary for six months. This decision paves the way for broader adoption of digital currencies in the UAE, particularly benefiting startups and the crypto community.
View original story
Similar markets
Technology • 25%
Finance • 25%
Healthcare • 25%
Retail • 25%
Technology • 25%
Finance • 25%
Real Estate • 25%
Retail • 25%
Bitcoin • 25%
Ethereum • 25%
EcoWatt tokens • 25%
Other • 25%
Bitcoin • 25%
Ethereum • 25%
EcoWatt • 25%
Other • 25%
Fewer than 50 • 25%
50-100 • 25%
101-200 • 25%
More than 200 • 25%
Finance • 25%
Retail • 25%
Real Estate • 25%
Technology • 25%
Financial Services • 25%
Gaming • 25%
Supply Chain • 25%
Healthcare • 25%
Less than 10% • 25%
10% to 25% • 25%
26% to 50% • 25%
More than 50% • 25%
Yes • 50%
No • 50%