Should Employers offer Crypto to Employees

Whatever your view of cryptocurrency, it seems to be becoming more mainstream, at least through marketing.

If you don't know much about cryptocurrency or blockchain, check out the FAQ article Paying Workers or Accepting Payments in Crypto provided by the law firm Fisher & Phillips.

In simple terms, cryptocurrency is money in the form of digital tokens, with the advantage of fast electronic transfer.

So instead of the delay using traditional paper checks, wire transfers, or ACH direct deposits, money can be transferred instantly.

But with higher risk.

Even with Stablecoins that are designed to mirror the value of a real currency, like the US Dollar, you still run the risk of hacks or technical errors.

Further, and according to the article, "the Fair Labor Standards Act requires wages to be paid in 'cash or negotiable instrument payable at par.' Cryptocurrency is neither. While the more popular cryptocurrencies can easily and immediately be sold for cash, this fact may not matter to the U.S. Department of Labor."

So should employers offer crypto to employees? You may want to check with an attorney first.