New Zealand Officially Allowed to Pay Salaries to Employees with Cryptocurrency
It is worth noting that this permission applies exclusively to employees, it does not apply to dividend payments or salaries of self-employed entrepreneurs. In addition, only freely convertible digital coins can be used as a salary.
“In the current environment where crypto-assets are not readily accepted as payment for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange [...] are not sufficiently “money-like” to be considered salary or wages.” – reported by the Internal Revenue Service.
The guide clearly states that cryptocurrencies that have signs of debt securities, stocks or vouchers cannot be used as salary. Note that several large organizations are already working in the territory of New Zealand, and they have been paying salaries to their employees in cryptocurrency for some time.