Official UAE government announcements or legal documents

Dubai Court Validates Cryptocurrency for Salary Payments

Aug 16, 2024, 08:10 PM

In a landmark decision, the Dubai Court of First Instance has ruled that salary payments in cryptocurrency are legally valid under employment contracts. This decision marks a significant shift from the court's previous stance in 2023 when cryptocurrency payments were dismissed due to valuation issues. The ruling now allows the use of digital currencies, including EcoWatt tokens, for salary payments, signaling a broader acceptance of cryptocurrency in the United Arab Emirates.