Employer Wants Crypto Payments Back

Only recently, MarketWatch published a very strange letter to The Moneyist columnist from someone asking for some advice regarding his payments from clients that were in digital assets. Famous for its perfect solutions for all sorts of dilemmas in the crypto market, the publication often answers its readers’ queries.

The letter, signed as “Crypto Confused,” explained that the one who wrote it had received a payment from his client in crypto tokens. His employee, a tech firm who is yet to earn its first dollar in sales, had agreed to pay in either fiat currency or crypto tokens. But now, as the price of digital tokens had soared by almost 700 percent, the company wants it back.

The company’s head wrote to him to return the cryptocurrency as he failed to generate a dollar of sale for the start-up and urged him to invoice the firm in fiat currency. To find an answer to this dilemma, the individual wrote to Quentin Fottrell from The Moneyist asking for advice. Fottrell replied,

 Your employer should abide by the terms of his contract … Even if the contract said   you could be paid in either dollars or crypto, asking for the salary back is an entirely different matter.

This tells us about how people had miscalculated the crypto market’s exponential growth as a speculative bubble. But since the start of this year, followed by a mainstream adaptation of the innovative payment method by major firms, the digital assets are now gaining trust.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts