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DUBAI COURT RECOGNIZE CRYPTO SALARIES
The Dubai Court of First Instance has made a landmark ruling that recognizes cryptocurrency as a valid form of salary payment under employment contracts .
Here are the key points:
- *Ruling Details*: The court ruled in favor of an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation, and other benefits .
- *Employment Contract*: The worker's employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens .
- *Crypto Payment*: The court ordered the employer to pay the crypto salary as per the employment contract without converting it into fiat .
- *Progressive Approach*: This ruling shows a shift from the court's earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation .
- *Far-reaching Implications*: This decision sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions .- *UAE Crypto Adoption*: This ruling is a significant step forward in the UAE's journey toward becoming a digital economy leader#DubaiBlockchainWeek Let me see your reply on in the comments section👇👇👇👇
The Dubai Court of First Instance has made a landmark ruling that recognizes cryptocurrency as a valid form of salary payment under employment contracts .
Here are the key points:
- *Ruling Details*: The court ruled in favor of an employee who filed a lawsuit claiming that the employer had not paid their wages, wrongful termination compensation, and other benefits .
- *Employment Contract*: The worker's employment contract stipulated a monthly salary in fiat and 5,250 in EcoWatt tokens .
- *Crypto Payment*: The court ordered the employer to pay the crypto salary as per the employment contract without converting it into fiat .
- *Progressive Approach*: This ruling shows a shift from the court's earlier stance in 2023, where a similar claim was denied because the crypto involved lacked precise valuation .
- *Far-reaching Implications*: This decision sets a positive precedent that encourages the further integration of digital currencies in everyday financial transactions .- *UAE Crypto Adoption*: This ruling is a significant step forward in the UAE's journey toward becoming a digital economy leader#DubaiBlockchainWeek Let me see your reply on in the comments section👇👇👇👇
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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