New Zealand has become the first country to legally back companies that are paying employees in cryptocurrencies, in a move that brings the often maligned asset class in line with mainstream forms of payment.
Cryptocurrencies are largely unregulated digital currencies that enable users to send money online without being tracked.
The ruling by New Zealand’s tax authority allows salaries and wages to be paid in cryptocurrencies such as bitcoin from September 1, as long as the payments are in regular, fixed amounts.
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