Bitcoin, Cryptocurrency

Costa Rica embraces crypto

(Source: The Costa Rica News) Recently it was announced that Costa Rican workers could choose to receive part of their salary in crypto-currencies. According to lawyer Rolando Perlaza from Nassar Abogados, an important Central American law firm, “this is a trend that could take hold in the country”.

“This type of payment would in no way replace traditional or liquid cash. It would rather become an incentive for the workers, who could decide if they accept these currencies as payment for their services. They are protected under article 166 of the Labor Code”.

The Central Bank of Costa Rica issued a directive in October 2017 that establishes that crypto-currencies are outside the National Banking System. The directive also indicates that the possibility of carrying out any type of commercial transaction using crypto-currencies is an option that is limited and that those who use them assume the financial risks.

“It is clear that, in Costa Rica, crypto-currencies cannot be used as cash or liquid wages, but remember that here you can pay part of the salary with other goods that are not money or currency, provided that the legal minimum wage is recognized with money”, explained Perlaza.  You can read more story at https://thecostaricanews.com/costa-rica-is-going-crypto/

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