Russian businesses to be fined for crypto payroll
Russian companies that have been tempted to pay employees in cryptocurrency are likely to be hit with hefty fines, according to labor authorities in Moscow.
Crypto has been gaining traction as a means of remuneration since Russia permitted limited use of cryptocurrencies in cross-border transactions, but regulators are adamant that the ruble remains the only legal tender, including when it comes to wages.
Russia’s labor agency threatens fines for crypto salaries
Russian businesses are not allowed to pay salaries in cryptocurrency, fully or partially, according to Russia’s State Labor Inspectorate. The agency outlined its categorical stance in a response to a request from employers for clarification on the matter, the Russian daily…
