A Crypto Payroll Comes With Legal Barriers and Financial Risks
As cryptocurrency becomes more mainstream, employees in the technology and finance sectors are exploring the idea of receiving wages in digital assets. While this trend reflects broader innovations in financial technology, it remains a niche practice, not a widespread shift in payroll systems.
Employers considering crypto-based compensation must proceed with extreme caution and ensure that neither the employment position nor level of compensation could fall under the scope of, or violate any, federal and state wage or tax laws.
These benefits come with substantial legal risks, particularly concerning the Fair Labor Standards Act and the complex regulatory environment surrounding cryptocurrencies.
Benefits and Legal Hurdles
One high-profile…
