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13 May 2021

Employer paid worker in crypto, then demanded it back when price rose

Employer paid worker in crypto, then demanded it back when price rose


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A United States-based business development specialist has claimed that a company that paid them for contract work using cryptocurrency now wants them to return the tokens following a significant rally in the asset's price.

Though Fottrell asserted that “paying employees in cryptocurrency is a risky practice for both the employer and the employee,” asking for payment back, whether from salaried employees or contract workers, would likely open the company up to a lawsuit.

Depending on the amount of cryptocurrency used for payment, Crypto Confused would likely need to pay 20% on the earnings under the current capital gains tax rate in the United States.

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cointelegraph.com

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