First step in New Zealand

2019-02-25T22:50:34.000Z Honest Cash

New Zealand has become the first country to legalize the payment of salaries in cryptocurrencies, after the Department of Internal Revenue, the New Zealand tax agency, has issued an opinion by which from next September 1 and during a period Initial three years will be legal to pay the salary of employed persons in crypto assets. In the opinion of the regulator, "not all types of crypto assets may be taken into account", explaining that to be validated as "salary or salary" they must be sufficiently similar to the existing notions of salary for which they should not be subject to periods lock and can be converted directly to a fiat currency, in addition to the purpose of the crypto asset is to function as a currency.