Good news coming to the digital currency space as one of the countries in the Asia region have just approved bitcoin and cryptocurrency for salary payments. It was first rejected in 2023 and now approved by the First court of instance.
Dubai's Court of First Instance recognized cryptocurrency as a valid form of salary payment, marking a significant shift in the UAE's approach to digital currencies. This decision is a notable update from the court's previous stance in 2023, where a similar case was rejected due to issues with valuing crypto payments.
This move will have a positive impact in the mass adoption and use of bitcoin. For a country as big and popular like Dubai to make this move, we wait to see similar from neighboring countries or tourist destinations like Dubai.
https://www.cryptotimes.io/2024/08/16/dubai-court-approves-cryptocurrency-for-salary-payments/That's a great step towards success. I am personally amazed by Dubai's approach towards business, their are doing very well and I like their vision. Crypto salaries will attract many crypto businesses and also very talented software developer, engineers and IT specialists who are also Bitcoin enthusiasts and investors.
If it is possible to receive part of the salary in BTC and the rest in fiat, that would be a good solution for those who would practice DCA in that way - and I honestly doubt that anyone would want the total amount in BTC. However, this is not about BTC itself, but about the fact that salaries can be paid in all cryptocurrencies, and if someone chooses the stablecoins option, then he does not have to worry about volatility.
Crypto salaries will be amazing for people who work in crypto companies. It will be good for businesses to pay in crypto because they already own it and it's also beneficial for those who want to keep their investment in crypto of their choice. Both, business and employee will save % on some fees.
Now I receive a salary in fiat. I buy Bitcoin on Binance with my fiat and I have to pay 2.5% more than the real price. Half Btc / Half Fiat is a great combo.