Can an employer pay wages in cryptocurrency?
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At the moment, Ukraine does not allow salaries to be paid in cryptocurrency. According to the law, all salary payments must be made in hryvnia, the official currency of Ukraine.
In Ukraine, cryptocurrency is classified as a virtual asset that is neither a banknote, currency, nor legal tender that has legal circulation. In 2021, a law was passed that defines the legal aspects of the circulation of virtual assets, but it does not change the rules for paying wages.
Nevertheless, legal entities may use cryptocurrency for barter transactions under civil law contracts, for example, when cooperating with freelancers or contractors. In this case, it is important that the terms of such payment are clearly described in the contract.
