Employer paid worker in crypto, then demanded it back when price rose
"I have worked with this person for many years, and he has a tendency to try to change the terms of payment after agreeing on a certain way of operating," said the contract worker. 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.According to a letter sent to Quentin Fottrell of MarketWatch’s "The Moneyist," the unnamed employee — known only as “Crypto Confused” — received payment for the contract work in cryptocurrency....
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A company paid an employee for his work done in cryptocurrency. However, after the price of the cryptocurrency skyrocketed 700%, the employer wants the coins back, offering to pay the employee in U.S. dollars instead. Employer Wants Crypto Back After It Rose 700% Marketwatch published a letter to The Moneyist columnist, Quentin Fottrell, Monday from someone asking for advice about crypto payments he received from his employer. The Moneyist is a service that provides answers to all sorts of dilemmas, and Fottrell is the publication’s personal finance editor as well as The Moneyist....
Decentralized and so-called on-demand services are facing a lot of uphill struggles these days. Not just due to the legal and regulatory considerations, but there is one major topic of debate that has not changed since day one. Is an on-demand contract an employee, a self-employed person, or should they be categorized differently? By the look of things, that last option seems to be the best choice for now. Whether or not the creation of an on-demand worker class would less the scrutiny from government officials against decentralized services remains to be seen, but the idea does seem to....
With Bitpay Payroll Services, you now can ask your employer to pay you in Bitcoin! ATLANTA-(BUSINESS WIRE)-BitPay, the world's largest payment processor for virtual currencies, announces a beta release of their bitcoin payroll API for employers, which allows their W-2 employees to receive a portion of their net pay in bitcoin. "Since all payroll and withholding taxes are taken out first from the employee's gross income, bitcoins can be sent from the net pay tax-free, and the employer's gross income reporting to the IRS remains unchanged." The Bitcoin Payroll API is designed for employers....
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What's the easiest way to get bitcoins into your wallet? Answer: Get paid in bitcoin. BitPay, the world's largest digital currency payment processor, now lets employees do that with the beta release of its Bitcoin Payroll API for employers. "For the longest time the hard question was 'How do I buy bitcoin?'" said Tony Gallippi, co-founder and CEO of BitPay. "Now the answer is easy: 'Ask your employer.'". American W-2 employees (see below) can elect to have all, or part, of their salary paid in bitcoin for every pay period. It works as a 'net payroll deduction', meaning taxes and garnishes....