🚀💰 Revolution in Dubai: Crypto salaries recognized as valid! 💰🚀
In a major breakthrough for cryptocurrencies in the UAE, the Dubai Court of First Instance has upheld cryptocurrency salary payments in employment contracts. The ruling marks a shift from a 2023 decision, where a similar claim was dismissed due to the lack of an accurate valuation of crypto.
Irina Heaver, a partner at NeosLegal, said the decision shows a progressive approach to integrating digital currencies into the country’s legal and economic framework. She said the court took an important step by accepting EcoWatt tokens as part of salaries, even without converting them to fiat currency.
Heaver points out that this ruling is a giant step towards the acceptance of cryptocurrencies in employment contracts and reflects the rapid evolution of financial transactions in the Web3 economy. She adds that this decision encourages the adoption of digital currencies in everyday financial transactions, creating a more inclusive and innovative business environment.
The future of the digital economy in the Emirates looks brighter than ever! 🔥💸
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