New Zealand's financial regulators at the IRD released a ruling telling employers how they can legally pay their staff in cryptocurrencies. While there were no laws banning it before, it was considered a grey area until now.
Now with clear guidelines, starting Sept 1st - it's absolutely allowed! If the employer offers it, and the employee chooses it over a regular fiat paycheck.
Employers will have to pay their staff in fixed regular amounts, the payment must be able to be converted directly into a government issued currency.
One part we weren't able to make sense of - the taxes may not be the same for each coin. No reasons for this, or examples were given.
Video Courtesy of 1 News
Video Courtesy of 1 News
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