Costa Rica Allows Workers to Be Paid in Cryptocurrency—But Will it Happen?

A recent news report suggests that Costa Rica’s labor laws permit the country’s workers to be paid in cryptocurrency:

“Recently it was announced that Costa Rican workers could choose to receive part of their salary in crypto-currencies. According to lawyer Rolando Perlaza from Nassar Abogados, an important Central American law firm, ‘this is a trend that could take hold in the country.’”

It may indeed catch on: crypto has been received well in the country thus far and is gaining widespread adoption. Costa Rican businesses are accepting cryptocurrency, and there have been a number of recent Bitcoin ATM installations in the country. Renewable energy sources have also made crypto mining popular in Costa Rica, as evidenced by this solar-powered mining farm.

But this form of payment is first and foremost an option; crypto will not replace Costa Rica’s traditional currency. Crypto is not handled or treated as currency by the National Bank of Costa Rica, and the legal minimum…