New Zealand tax regulator rules Bitcoin can be used to pay workers salaries starting Sept. 1st

posted 10 months ago
New Zealand's government published a ruling by its tax authorities that allows paying workers’ salaries with Bitcoin. New Zealand’s tax regulators said cryptocurrency will be legalized as payment, and employees could begin to receive salaries in digital currency. The ruling is expected to officially begin starting on the 1st of September.

The 67 page report states specific requirements for which cryptocurrencies are allowed, such as being able to be readily traded on a public exchange, and be used like a fiat currency, and mentions Bitcoin as an accepted and prototypical example of a cryptocurrency that meets all requirements.
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