Image Image Image Image Image Image Image Image Image Image Image Image

| August 19, 2018

Scroll to top

Top

workers' Archives - Page 2 of 49 -

Costa Rican Workers Can Be Legally Paid in Cryptocurrency

July 22, 2018 |

Costa Rican Workers Can Be Legally Paid in Cryptocurrency

Employees in Costa Rica can receive part of their salary in cryptocurrency and that wouldn’t be against the law. Certain provisions in the national legislation allow companies to pay their workers not only with fiat money but also with goods, and some legal experts believe cryptos can fit in this category. Besides, Costa Rican laws provide for the use of commonly accepted assets as means of payment.   

Also read: New BATM Supporting BTC, BCH Launches in Sofia

Cryptos in Costa Rica Can Be Goods, Assets, Quasi-Money

Workers in Costa Rica may soon start receiving a portion of their salary in cryptocurrency, local media reported. As far as Costa Rican law is concerned, there is no reason this cannot happen. The country’s legislation allows employers to partly remunerate their staff with goods that are not currency, as long as the legal minimum wage is paid in money. It also develops the concept of “quasi-money”, or any asset that can be used as a means of payment and has been widely accepted as such in the society.

Costa Rican Workers Can Be Legally Paid in Cryptocurrency“This is a trend that could take hold in the country,” said Rolando Perlaza who is working at Nassar Abogados, a prominent law firm in Central America. “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,” the expert elaborated, quoted by the Costa Rican News. He also emphasized that in any case employees are protected by article 166 of the country’s Labor Code.

The publication notes that in October last year, the Central Bank of Costa Rica (CBCR) issued a directive which established that cryptocurrencies are outside the national banking system. The document also indicated that carrying out any type of commercial transactions with digital coins is a “limited option” in the country. Along with that, the central bank warned that those who use cryptocurrencies assume the associated financial risks.

Costa Rica’s Growing Crypto Sector

Costa Rican Workers Can Be Legally Paid in CryptocurrencyDespite CBCR’s assessment, the local crypto sector has been developing steadily in recent years with a growing number of merchants and other businesses, including many hotels and companies from the tourism industry, accepting cryptocurrencies as a legitimate payment method. Costa Rica, which has remained relatively open towards business ventures in the crypto space, has also seen a number of bitcoin ATMs popping up in the capital San Jose and elsewhere.

According to the report, the Latin American country also offers favorable conditions for crypto mining thanks to its renewable sources. “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,” said Daniel Yépez, a local crypto entrepreneur. “Cryptocurrencies are here to stay and we are embracing the changes,” added Yépez whose company, SH Mining Technologies, specializes in providing cloud mining services.

Can cryptocurrencies be used as legal means of payment under the current legislation in your country? Let us know in the comments section below.


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post Costa Rican Workers Can Be Legally Paid in Cryptocurrency appeared first on Bitcoin News.

Bitcoin News

Retailers compete early for seasonal workers amid strong U.S. jobs market

July 22, 2018 |

While the nation’s big retailers battle for consumer dollars they’re now also waging a fight for seasonal workers.

Retailers such as J.C. Penney Co. and Kohl’s Corp. already are posting help-wanted ads for their busy season, weeks or even months earlier than usual. That means Americans looking…


L.A. Times – Business

Las Vegas’ MGM Resorts, Caesars Entertainment workers to be given panic buttons

July 7, 2018 |

The news marks the second time that the distribution of panic buttons for hotel workers has made headlines this week.
FOX News

Latest minimum wage hike comes as some employers launch bidding wars for scarce workers

July 1, 2018 |

Karen Quintana is keenly aware of how hard it is for companies to find workers who can handle the government red tape and other complexities of shipping containers of electronics, toys and machine parts in and out of the nation’s largest port complex in San Pedro Bay.

Once companies do find a qualified…


L.A. Times – Business

Workers at Trump golf course and Terranea resort file lawsuit over ‘panic button’ ballot measure

June 21, 2018 |

A petition drive to force the exclusive Terranea Resort and nearby Trump National Golf Club to provide employees with panic buttons and wage increases is now the subject of a lawsuit alleging that the city of Rancho Palos Verdes is refusing to put the measure on the ballot.

The Los Angeles County…


L.A. Times – Business

Short of Skilled Medical Workers, U.K. to Relax Visa Limits

June 15, 2018 |

The U.K. plans to relax immigration rules for doctors and nurses, an effort to address a staffing crunch in the state-run National Health Service that has worsened since voters chose to leave the European Union.
WSJ.com: What’s News Europe

Initiative to give Disneyland workers a ‘living wage’ qualifies for the ballot in Anaheim

June 14, 2018 |

Unions that represent workers at the Disneyland Resort in Anaheim are one step closer to requiring the theme park to pay its employees a “living wage.”

The Orange County Registrar of Voters has certified that a petition to force major Anaheim employers who get city subsidies to boost their workers’…


L.A. Times – Business

Shale country is out of workers. That means $140,000 for a truck driver and 100% pay hikes

June 10, 2018 |

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom.

It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But…


L.A. Times – Business

Lawyer Says Target Workers Made Falsely-Accused Woman Expose Herself

June 6, 2018 |

A lawyer for a black Detroit-area woman says Target employees falsely accused her of stealing a bikini and forced her to expose parts of her body, the AP reports. Attorney Jasmine Rand said Monday 20-year-old Ashanae Davis was shopping at a Target May 22 in Southfield. A security worker grabbed…
Newser

There now are more job openings in the U.S. than unemployed workers to fill them

June 5, 2018 |

The labor market has hit a tipping point that should help boost wages: There are more job openings in the U.S. than unemployed workers to fill them.

It’s the first time that’s happened since the government began tracking job openings in 2000.

Job openings hit a record of 6.7 million in April, the…


L.A. Times – Business