New Zealand has become the first country to legalize the payment of salaries in cryptocurrencies, after the Department of Internal Revenue (IRD for its initials in English), the New Zealand tax agency, has issued an opinion by which from On September 1 and during an initial period of three years it will be legal to pay the salary of employed persons in crypto assets.
The approved legislation, published on August 7, stipulates that the payment of the remuneration in cryptocurrencies representative on a regular basis a fixed part of the salary of the employed persons, expressly excluding the self-employed from the potential recipients.
Similarly, the regulation requires that these crypto assets can be converted "directly" into a fiat currency and that their value is connected to one or more fiat currencies.