• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Dubai Court Recognizes Cryptocurrency Salaries in Landmark 2024 Ruling

user avatar

by Giorgi Kostiuk

a year ago

  1. Case Background: A Shift Toward Cryptocurrency
  2. The 2023 Ruling: Traditional Approach
  3. The 2024 Ruling: Embracing Cryptocurrency


    4. In a landmark decision, the Dubai Court of First Instance has recognized the payment of salaries in cryptocurrency. This significant shift marks a new approach to digital currencies in employment contracts in the UAE.

    Case Background: A Shift Toward Cryptocurrency

    The case involved a plaintiff employee who sued for unpaid wages and wrongful termination. The contract included a fiat salary and an additional 5,250 EcoWatt tokens. The dispute arose from the defendant's failure to pay the EcoWatt portion for six months.

    The 2023 Ruling: Traditional Approach

    In a similar 2023 case, the court took a cautious stance, refusing to award payment in EcoWatt tokens due to the lack of a clear valuation. This reflected a need for concrete financial evidence.

    The 2024 Ruling: Embracing Cryptocurrency

    In 2024, the court adopted a progressive stance, recognizing the validity of cryptocurrency payments and ordering the salary to be paid in EcoWatt tokens. The court underscored that wages are an employee's right, regardless of the currency.

    Regarding the request for the monthly salary, it is established according to Article 912 of the Civil Transactions Law that wages are a right of the worker against the employer. The employer must pay wages on due dates.None

    This ruling marks a significant development in the UAE legal landscape, indicating wider acceptance of digital currencies. The court's decision sets a robust precedent for future cases involving cryptocurrency salaries.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Vitalik Buterin's Alleged Prediction of Bug-Free Smart Contracts Remains Unconfirmed

chest

Reports are circulating about Ethereum co-founder Vitalik Buterin allegedly predicting a bug-free future for smart contracts by December 24, 2025, but there is no official statement supporting this claim.

user avatarGustavo Mendoza

Nvidia's Strategic Acquisition of Groq Enhances AI Capabilities

chest

Nvidia's acquisition of Groq is a strategic decision to neutralize competition and enhance its AI capabilities.

user avatarRajesh Kumar

AI Outperforms Human Traders in Aster DEX Competition

chest

The Human vs AI trading competition at Aster DEX concluded with AI models demonstrating superior trading efficiency, resulting in significantly lower losses compared to human traders.

user avatarMiguel Rodriguez

Shiba Inu Investors Look to 2026 for New Opportunities

chest

Shiba Inu investors are shifting their focus to 2026, seeking new catalysts for price recovery, including potential regulatory changes and developments within the Shiba Inu ecosystem.

user avatarLuis Flores

S&P 500 Hits Record High as Tech Stocks Surge

chest

The S&P 500 index reached a record high of 6,909.79, driven by gains in technology stocks like Nvidia and Alphabet, alongside a reported 4.3% GDP growth.

user avatarMaria Gutierrez

Prediction Markets Enter Fully Agent-Driven Phase

chest

Prediction platforms are evolving to integrate fully autonomous agent economies, enhancing their scalability and reliability.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.