Workers From Costa Rica Can Be Legally Paid in Cryptocurrencies

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This is a very important step for cryptocurrencies around the world. Employees of Costa Rica are able to receive virtual currencies as salary for their work. But the important fact here is that everything is compliant with current laws.

Enterprises in the Central American country have the option to pay to their employees using cryptocurrencies, or any other good.

Costa Rica Pays in Bitcoin

According to local media, workers in Costa Rica may be able to receive crypto payments if they decide so. The legal framework of the country does not forbidden companies to do that. Indeed, they are able to process payments to their employees with money and with goods not considered currencies. It is important to mention that they have developed the concept of ‘quasi-money’ which can be used as a means of payment by the society.

Rolando Perlaza, worker at Nassar Abogados, commented on the matter:

“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.”

Back in October, the Costa Rican Central Bank (BCCR), announced that virtual currencies operate outside the traditional national banking system. The virtual currency sector has been expanding everywhere around the world, and Costa Rica is not lagging behind.

There are several shops, hotels and other stores that are accepting virtual currencies, including Bitcoin (BTC). Indeed, there are two ATMs in the country that support Bitcoin and other cryptos, according to CoinATMRadar.

A local cryptocurrency entrepreneur explained:

“Our Costa Rica-based crypto mining facility utilizes renewable energy options such as solar and wind. We think renewable energy has to be an essential part of any crypto related project. This green approach is good both for us and for the planet and makes the new business opportunities even better.”