Chinese Court Rules USDT Wages Are Illegal
The People’s Court of Chaoyang District (Beijing) has ruled that employers cannot pay employees in stablecoins like USDT in China, Beijing Daily has reported.
The decision was made as part of a case initiated by a local resident who held a position in a blockchain companies that gave him a salary and bonuses in USDT.
According to the plaintiff, the management refused to pay him in yuan. The court has cited the tightening regulation of the crypto industry in the country and has stated that stablecoins are not legal tender in China.
The requirement to use the national currency in labor relations was recognized as legal. According to the ruling, the defendants are required to pay the plaintiff a total of more than 270,000 yuan in salary and bonuses.
