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The decision was originally filed in an August 7 note , which also detailed New Zealand's plans to allow for bonuses to be paid in cryptocurrency.
The salary option will still fall under the nation's income tax scheme, and the ruling excludes self-employed workers from switching their income to cryptocurrency. The move brings the controversial digital asset further into the realm of everyday payment methods.
Cryptocurrencies are relatively free of regulation , and their untrackable nature helped them grow popular with anonymous online purchases. The move serves as "another step towards governments recognizing that actually people are wanting to be paid in" cryptocurrencies, said Thomas Hulme, a solicitor at London-based law firm Mackrell Turner Garrett, to the FT.
Markets Insider is looking for a panel of millennial investors. Cryptocurrencies are also considered a novel — and volatile — investment asset. Bitcoin currently trades at a month high, surging as investors flee stocks on trade-war fears. New Zealand's decision comes nearly two months after Facebook announced its own cryptocurrency , named Libra. Though the reveal stoked privacy concerns from investors and government officials alike, the tech giant's interest in digital currency added new legitimacy to the technology.
Now read more markets coverage from Markets Insider and Business Insider:. Company Why BCA? Since , BCA has partnered with its clients to create accounts receivable management programs tailored to fit their business needs.
When it comes to handling your accounts receivable, everything matters Combining industry-leading technology and seventy plus years of experience, we train our staff to use state of the art technology in a consumer-friendly way, to collect the right amount, from the right person. Whether you are a new client, or you're one of the many clients who have partnered with us for over twenty years, you can expect the kind of personalized service that makes you feel like our only client.
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