JAKARTA – After Bitcoin was officially made a legal tender in El Salvador. There is a lot of speculation circulating about how Bitcoin transactions and applications are made to the public, including for the payment of employee salaries.
The Minister of Labor and Social Welfare, Rolando Castro actually doubted the government's decision to adopt Bitcoin. Considering that there are no regulations or procedures that regulate the payment of someone's salary with crypto money, such as Bitcoin.
“It is too early to discuss salaries (with bitcoin),” Castro said, as quoted by Cointelegraph, Thursday, June 17.
Castro does not want to speculate on the issue of paying salaries with Bitcoin, considering that not many companies have adopted the transaction system. Launching Yahoo Finance, regulations in El Salvador say that salary payments must be made with official money and Bitcoin is one of them.
However, until now there has been no more detailed information regarding this matter. As is well known, El Salvador was the first country in the world to adopt Bitcoin.
Nayib Bukele explained that the adoption of Bitcoin as the official currency of El Salvador will help improve the economy of its citizens. Apart from being an official transaction tool, the Act also states that tax payments can be made using Bitcoin. In addition, the official currency of another country, the US dollar will be used "as the reference currency".
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