The regulation of cryptocurrency to remunerate employees in Australia
File version
Accepted Manuscript (AM)
Author(s)
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)
Date
Size
File type(s)
Location
License
Abstract
Cryptocurrency is a method of remunerating employees (‘cryptoremuneration’). However, crypto-remuneration has not been examined within the existing regulatory framework governing labour. This article explores the regulation of crypto-remuneration in Australia, specifically how labour, taxation and superannuation laws (state regulation), as well as the parties themselves (self-regulation) may regulate cryptocurrency as a method of reward for labour. It is argued that the Fair Work Act 2009 (Cth) and associated state legislation prohibits the payment of wages in cryptocurrency, and treats crypto-remuneration as a non-monetary benefit. The impact of regulation on how the parties may structure the remuneration package in the contract of employment is examined. Regulatory, price volatility and operational risks of crypto-remuneration are identified, as well as recommendations to stakeholders that can manage these risks.
Journal Title
Australian Journal of Labour Law
Conference Title
Book Title
Edition
Volume
33
Issue
Thesis Type
Degree Program
School
DOI
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement
© 2020 Lexis Nexis Australia. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal website for access to the definitive, published version.
Item Access Status
Note
Access the data
Related item(s)
Subject
Commercial law
Persistent link to this record
Citation
Cameron, C, The regulation of cryptocurrency to remunerate employees in Australia, Australian Journal of Labour Law, 2020, 33, pp. 157-182