Dubai has officially approved the use of cryptocurrency for salary payments making a significant shift in integrating digital currencies in to the state.
A Dubai court has ordered a company to pay an employee's outstanding dues in UAE currency and cryptocurrency as agreed in the contract. The ruling, announced in case number 1739 of 2024, marks a significant shift and progressive approach as the financial transactions industry evolves constantly. The employee's contract specified monthly salary to be paid in UAE dirhams and Ecowatt Tokens, a form of cryptocurrency. After the arbitrary dismissal case was ruled in favor of the employee, the court ordered the company to pay the employee her wage in Ecowatt Token as well. The ruling underscores the principle that wages are a fundamental right of the employee, rooted in the agreed-upon work and enshrined in Article 912 of the Civil Transactions Law. The ruling builds upon the legal framework established by Federal Decree-Law No. (33) of 2021, which governs labor relations in the UAE and highlights the flexibility in wage payment mechanisms.
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