Dubai's Court of First Instance has reportedly made a decision to approve cryptocurrency as a valid method for salary payments, marking a significant shift in the UAE’s digital currency policy. The ruling will likely allow employees to receive payments in cryptocurrency under employment contracts. The decision reportedly overturns a 2023 ruling where the court dismissed a similar case due to challenges in crypto valuation. The court has reportedly ruled in favour of an employee whose contract included payments in both fiat currency and EcoWatt tokens. Mario Nawfal (@MarioNawfal) shared a post on X and mentioned after experiencing a 6-month delay in receiving token payments, the court  reportedly ruled the terms of the contract by allowing salary payments in cryptocurrency without converting them to fiat. Cryptocurrency types include Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Tether (USDT) and more. However, it is not specified in which currency it will be applicable.UPI Global Expansion: UAE Merchants Now Accept Payments in INR via UPI To Attract Indian Customers.

Dubai Court Approves Cryptocurrency for Salaries

Dubai Court Approves Crypto Salary Payments

(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)