Accepting your salary in cryptos in France – Limits and workarounds to know!

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Yes, you can accept your salary in crypto

The payment of wages in France is strictly regulated by the Labor Code. ” The salary is paid in cash or by crossed check or by transfer to a bank or postal account., according to article L3241-1. The Labor Code stipulated that the monthly salary had to be paid in euros. But this requirement (article L143-1) has not been in force for a few years. The need for payment in euros is no longer mentioned in any article of the French Labor Code. Similarly, the United Nations International Labor Organization does not explicitly require wages to be paid in fiat currency.

The limit…

the Monetary and Financial Codeon the other hand, states that the “ payment of salaries and wages […] must be made by crossed check or by transfer to a bank or postal account or to an account maintained by a payment institution or an electronic money institution which provides payment services. »

In other words, this means that a company cannot pay its workers by sending cryptos to their wallets. Payroll must be deposited in a bank account. This is therefore currently the only restriction imposed on employers and workers.

The solution – crypto salary payment via crypto-friendly banks!

To circumvent the current regulations, simply request that your salary be deposited with a crypto-friendly bank that accepts both fiat currency and crypto deposits. It is therefore possible to make an agreement with your employer after opening an account in this type of bank. Provided that your employer is crypto-friendly :).

Read also You are slowly but surely missing out on the late 2022 bull market!

Which are the crypto-friendly banks?

The list is still very short in France and the process is not yet smooth!

  • Wirex
  • Nuri (formerly Bitwala)
  • N26

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