The country where workers can legally get paid in cryptocurrencies

Head to Costa Rica, and it’s possible, under law, to get part of your earnings in crypto…

Bit by bit, cryptocurrencies are taking on the work of traditional finance around the world. And in Costa Rica, it’s now legal for workers to get their wages – or at least part of them – in cryptocurrency.

Whilst laws dictate that crypto can’t replace traditional salary entirely in the country, Costa Ricans nonetheless can get part of their earnings this way. That’s because they’re covered by what’s known as ‘quasi-money’. Something that’s not exactly the same as money, but has a similar function.

Chatting to Summa Magazine, Rolando Perlaza, a lawyer in Costa Rica, said that “this is a trend that could take hold in this country”, adding that “remember that here you can pay part of the salary with other goods that are not money or currency, provided that the legal minimum wage is recognized with money”.

What’s unclear thus far is how many companies are taking up the opportunity to pay their workers this way. But the opportunity is clearly there, and likely to grow.

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