Dubai court recognises crypto assets as a valid form of salary payment

Dubai, United Arab Emirates (UAE) has recognized crypto assets (virtual currencies) as a valid salary payment option. On the 16th, the Dubai Court of First Instance announced the Global Digital Financial Trends
"In line with this, the government has decided to make cryptocurrency a viable means of salary payment," said Irina Heber, partner at UAE law firm NeosLegal.
Heaver said, "The ruling in Case 2024-1739 is a violation of the court's previous decision not to recognize cryptocurrencies as a valid means of salary payment due to a lack of accurate valuation of crypto assets.
"The situation has changed," he explained. According to Hibber, the case involved an employee who claimed he had not received his wages from his employer and was seeking compensation for wrongful dismissal.
The company ordered employees to raise their hands and, as specified in their employment contracts, to be paid in cryptocurrencies and not converted into fiat currency.