Shenzhen Court: Virtual currency should not and cannot be used as a wage standard
2024-11-28 10:40:53
Odaily News The Shenzhen Qianhai Cooperation Zone People's Court recently ruled that in labor-capital dispute cases, the agreement to pay wages in virtual currency is invalid, and clearly pointed out that virtual currency does not have the status of legal tender and should not and cannot be used as a wage payment standard. In the case, Zhou claimed that he and the company agreed on a monthly salary of 45,000 yuan, of which 25,000 yuan was paid in the form of USDT. However, the court determined that virtual currency is not legally indemnifiable, the relevant agreement violates laws and regulations, and the existing evidence is insufficient to prove that the company agreed to pay additional virtual currency wages, so it was not supported. The court also determined that the company illegally terminated the labor contract and was required to compensate Zhou 10,000 yuan. The "Labor Law of the People's Republic of China" and the "Interim Provisions on Wage Payment" clearly require that wages should be paid in legal currency. The judge reminded that employers are not allowed to pay wages in virtual currency, and workers have the right to refuse and request payment in RMB to ensure legal protection.
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