Bitcoin & Co .: New Zealand allows encrypted content 2

Bitcoin & Co .: New Zealand allows encrypted content

NOTNew Zealand dares to take a step forward in the government's acceptance of crypto-cutouts: as of September 1, 2019, wage-earning companies can pay their employees with digitally encrypted cash under certain conditions . As of May 2019, two home sellers in Auckland, New Zealand, caused a sensation: they accepted Bitcoin as a means of payment. The purchase price of his home rises to NZ $ 1.2 million (about 707,780 euros), as reported by the New Zealand Herald.

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Cryptos Content: These are the conditions

New Zealand is leading the way, as it is the first country to allow encrypted Lions payment. However, this only applies if the employer and the employee have previously defined the amount of the salary and the employment relationship is regular, thus excluding short-time work. In addition, the digital currency must be coupled with the public currency so that the employee can exchange it directly in hard currency. One such paired currency is Tether, which is paired with the US dollar, or Facebook's future digital currency, Libra.

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Cryptographic content: what are the benefits?

The crypto-religious adepts believe that the New Zealand government will allow the Treasury to tax Crypto Charters in the same way that Gehlter does in normal currency. (In Germany, for example, the taxation of crypto cakes is unregulated and there is still disagreement.) The new regulations are also interesting for foreign workers: in New Zealand, many Asian guest workers are working, that is to say with their salary. The referral agencies pay up to 15% of their reference money for hard money services. Cryptographic cakes are an alternative because of their low transaction costs and fast transfer. One such referral service specifically for guest workers is already under development: the global payroll network, Velo Payments uses Blockchain technology to secure its proven cash flow and requires only 1% of the referral fee for its services.

Cryptographic content: Bitcoin & Co. as a reward?

However, the first cryptowins, such as Bitcoin or Litecoin, can not yet be officially used for salaries. The reason: they are not associated with hard money, but a speculative object, which is why their value fluctuates a lot. Consequently, the nominal payment in cryptocurrency would be contrary, which contradicts the wages fixed by the New Zealand regulations. However, there are already salary payments in Bitcoin or Litecoin, on the Isle of Man. The island situated between Scotland, England, Northern Ireland, the Republic of Ireland and Wales, placed under the British crown, is considered a tax haven. There, Coincorner pays its 15 employees the salary in Bitcoin, Litecoin, Ethereum or Ripple. The amount is based on the respective exchange rates of the pound sterling.