In Costa Rica workers can receive legal payments in cryptocurrency

Employees in Costa Rica can receive part of their salary in cryptocurrency and that is not against the law. Some provisions of national legislation allow companies to pay their workers not only with fiduciary money but also with assets, and some legal experts believe that crypts can fit into this category. In addition, the laws of Costa Rica provide for the use of commonly accepted assets as a means of payment.

Cryptos in Costa Rica can be assets, assets, quasi money
Workers in Costa Rica may soon start receiving a portion of their salary in cryptocurrency, local media reported. As far as Costa Rican law is concerned, there is no reason why this can not happen. The country's legislation allows employers to partially compensate their personnel with goods that are not currency, provided that the legal minimum wage is paid in money. It also develops the concept of "quasi-money" or any asset that can be used as a means of payment and that has been widely accepted as such in society.

Costa Rican workers can receive legal payments in cryptocurrency "This is a trend that could take hold in the country," said Rolando Perlaza, who works at Nassar Abogados, a leading law firm in Central America. "This type of payment would in no way replace traditional cash or liquid, prefer to become an incentive for workers, who could decide if they accept these coins as payment for their services," said the expert, quoted by the Costa Rican newspaper. He also stressed that, in any case, employees are protected by article 166 of the country's Labor Code.

The publication points out that in October of last year, the Central Bank of Costa Rica (CBCR) issued a directive that established that cryptocurrencies are outside the national banking system. The document also indicates that carrying out any type of commercial transaction with digital currencies is a "limited option" in the country. Along with that, the central bank warned that those who use cryptocurrencies assume the associated financial risks.

Growing cryptographic sector of Costa Rica

Costa Rican workers can receive legal payments in cryptocurrencies Despite CBCR's assessment, the local cryptographic sector has developed steadily in recent years with an increasing number of merchants and other companies, including many hotels and tourism industry companies, that accept cryptocurrencies as a legitimate payment method. Costa Rica, which has remained relatively open to commercial companies in the cryptographic space, has also seen the emergence of a series of bitcoin ATMs in the capital San José and elsewhere.

According to the report, the Latin American country also offers favorable conditions for crypto mining thanks to its renewable sources. "Our crypto mining facility in Costa Rica uses renewable energy options such as solar and wind, and we believe that renewable energy should be an essential part of any project related to cryptography, and this ecological approach is good for both us and the planet. and it makes the new business opportunities even better, "said Daniel Yépez, a local cryptographic entrepreneur. "The cryptocurrencies are here to stay and we are adopting the changes," added Yépez, whose company, SH Mining Technologies, specializes in providing mining services in the cloud.
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