New Zealanders can now be paid their salaries in cryptos

In order to cement the crypto tax regulation in the country, New Zealand’s Inland Revenue Department has made it legal for local residents to receive their salaries via cryptocurrencies. The IRD made this announcement via its August bulletin, where it’s clearly indicated that as long as it counts as remuneration for services provided, a resident of New Zealand is eligible to receive parts or all of their salary in crypto assets. However, all of this falls under the Income Tax Act, meaning that crypto holders will be identified and taxed accordingly. Almost every single cryptocurrency applies to the new law