CoinVoice has learned that, according to Shenzhen News, the People's Court of Qianhai Cooperation Zone in Shenzhen recently made a judgment on a labor dispute case involving salary payment in virtual currency. The case originated in June 2021, when the plaintiff, Zhou, joined a certain company as a senior engineer, claiming that he had agreed with the company on a monthly salary of 45,000 yuan, of which 20,000 yuan would be paid via bank transfer, and the other 25,000 yuan in the form of USDT. Two months later, the company terminated the labor contract on the grounds of 'skills not matching', but did not pay the agreed part of the salary in virtual currency.
The court found that, according to the notice issued in September 2021 by the central bank and ten other departments (on further preventing and handling the risks of speculation in virtual currency transactions), virtual currencies including Bitcoin, Ethereum, and USDT do not have legal compensatory status. At the same time, Article 50 of the Labor Law and Article 5 of the Interim Provisions on Wage Payment clearly stipulate that wages must be paid monthly in legal currency and cannot be replaced by other forms.
Ultimately, the court only supported the plaintiff's claim regarding the unlawful termination of the labor contract, ruling that the company must pay a compensation of 10,000 yuan. This case was upheld by the Shenzhen Intermediate People's Court in the second instance. [Original link]