New Zealand has said it will allow companies to pay salaries in bitcoin from the beginning of September 2019. Income tax will be deduced through the existing PAYE system and bonuses can also be paid in crypto. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. The news is being seen as another step towards governments realising that people increasingly want to be paid in crypto. The digital currency will have to be pegged to a fiat currency and it must be convertible directly into a standard payment.
New Zealand has said it will allow companies to pay salaries in bitcoin from the beginning of September 2019. Income tax will be deduced through the existing PAYE system and bonuses can also be paid in crypto. Self-employed people will be excluded from the scheme, however. The news is being seen as another step towards governments realising that people increasingly want to be paid in crypto. The digital currency will have to be pegged to a fiat currency and it must be convertible directly into a standard payment.