More companies are considering paying their employees in tokens such as Bitcoin. The Japanese GMO group and the German Digitalmagazin t3n, for example, have announced that they plan to pay their employees in Bitcoin. This trend gives rise to the question: Are there restrictions under German employment law that companies must take into account?
Salary Payment in Tokens: German Labour Law Considerations
By Dr. Oliver Lieth, Dr. Sebastian Keding, Dr. Thomas Gennert and Volker Teigelkötter on July 10, 2018
Posted In Employment
Dr. Oliver LiethDr. Oliver Lieth advises clients on all aspects of finance and has special knowledge of financing in association with real estate acquisitions and corporate credit lines. He also focuses on finance issues arising in connection with restructurings. Oliver has vast experience in advising banks and car manufacturers on cooperation agreements in the area of automotive wholesale financing.
Dr. Sebastian KedingSebastian is a lawyer in our Düsseldorf office. He studied law at the university in Bonn. During his studies and his legal clerkship, he worked for the Federal Financial Supervisory Authority (BaFin) and a number of international law firms in Bonn, Düsseldorf and London, in the areas of corporate, insolvency and financial law. Read Sebastian Keding's full bio.
Dr. Thomas GennertDr. Thomas Gennert focuses his practice on labor and employment law. He advises clients on the entire field of individual and collective employment law, data-privacy law and compliance, and employment-related litigation as well as employment-related matters in mergers and acquisition transactions. He also advises managing directors and corporate bodies on negotiation and termination of service agreements and liability related matters. Read Dr. Thomas Gennert's full bio.
Volker TeigelkötterVolker Teigelkötter advises clients on the entire spectrum of German and European labor and employment law. Volker counsels clients on all types of staff-related measures in connection with reorganizations (e.g., redundancy programs, plant closures, relocations, outsourcing, collective dismissals), as well as on individual dismissals for various reasons (e.g., compelling business needs, misconduct, poor performance). This includes representing clients before labor courts and during negotiations with work councils and trade unions. In addition, Volker focuses on employment contracts for senior executives, as well as bonus and incentive schemes. Read Volker Teigelkötter's full bio.
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