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The employer wants to return the salary paid in cryptocurrency after the growth of the exchange rate by 700%


An employee of one of the startups told a story about how the employer demanded the return of the salary paid in cryptocurrency after the rate increased several times.

According to him, the CEO of the company offered him a settlement in cryptocurrency at the conclusion of the contract in the spring of 2020. The contract contained a condition that the employer could transfer it to pay in dollars, but the employee refused to do so.

“If I take on the risks of receiving payment in cryptocurrency and its rate suddenly rises, I don’t want the company to start paying with me in dollars,” he explained.

In August 2020, the company settled with an employee in cryptocurrency, the rate of which has since risen by 700%. He recently received a message from his employer with the following text:

“Since you have not brought any revenue to the company and are currently not doing any additional work for it, please return us all the cryptocurrency you received in August 2020. You can bill the company for hours worked in dollars. ”

“I do not know what to do. I have worked with this person for many years, and he has a tendency to try to change the terms of payments, after agreeing on a certain form of interaction, ”the author writes.

The MarketWatch portal, on which the story was published, advised him not to return the cryptocurrency, since the employer would hardly want to pay extra if the rate collapsed.

“A contract is a contract,” explained labor lawyer Eugene Lee. “Neither you nor your employer can violate the terms of the contract without consequences.”

Although the author does not specify the name of the cryptocurrency, ether (ETH) fits the description, the rate of which has grown by 790% since August 1. In addition to contradicting common sense, the option proposed by the employer is also difficult because, according to American law, when calculating in cryptocurrency, an employee must pay taxes from the amount received.

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