Dubai court ordered a company to pay an employees outstanding dues in UAE currency and cryptocurrency
29 Aug 2024
NewsA Dubai court made a historic decision by ordering a business to settle an employee's unpaid debts using both cryptocurrency and UAE money, as specified in the employment contract. This happened after the worker brought an arbitrary termination lawsuit against the business.
In light of the ongoing evolution of the financial transactions industry, the Dubai Courts of First Instance's verdict in case number 1739 of 2024 represents a significant change and progressive attitude.
According to the terms of the employment agreement, the employee's monthly income would be paid in both UAE dirhams and the cryptocurrency Ecowatt Tokens. The court ordered the corporation to pay the employee her wage in Ecowatt Tokens following the ruling in favour of the employee in the arbitrary dismissal case.
It protected the worker's right to his wages and kept up with technological advancements by granting a portion of the complainant's compensation in EcoWatt tokens. This highlights the fact that payment systems are subject to change over time.