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New Zealand Allowing Crypto Salaries

August 12, 2019 10:34 am by FomoHunt

New Zealand — Starting on September 1st, employees working in New Zealand will be able to receive their salary in cryptocurrency. However the stipulations require that only cryptos currency used as a form of payment can be used. Crypto Kitties and Security Tokens will not be accepted. A report released by the Inland Revenue Department stated 

“In the current environment where crypto-assets are not readily accepted as payments for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange are not sufficiently “money-like” to be considered salary or wages.”