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Is cryptocurrency payroll legal?

from By Grace Ferguson

Paying employees in cryptocurrencies could be an emerging trend. But, it’s not without controversy or implications. U.S. employers should tread carefully. A key area of consideration is the Fair Labor Standards Act (FLSA), which says that employers must pay employees "prescribed wages, including overtime compensation, in cash or negotiable instrument payable at par." "Negotiable instrument payable at par" is interpreted to mean either cash or something that can be immediately converted into cash, such as direct deposit or paper check. more


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