Cryptocurrency

APA Report: Roadblocks to the Blockchain
An Analysis of Regulatory Hurdles for the Payment of Wages With Cryptocurrency

The interest in receiving wages in the form of cryptocurrency has magnified over the past few years. What was once a niche market for those on the cutting edge of new technology has grown into a standard topic of discussion for employers, employees, payroll professionals, and government leaders. The increase in interest raises questions about the best way to manage and regulate a form of currency that was not originally considered in wage payment laws impacting payroll management.

The American Payroll Association’s (APA) Government Relations Task Force (GRTF) Electronic Payments Subcommittee set out to understand the compliance and operational challenges and offer recommendations to payroll professionals and their employers as well as to government entities. For legal and regulatory challenges in which solutions are more elusive, the GRTF seeks to create an ongoing dialog to aid stakeholders in constructive discussions.

Key topics include:

• An in-depth guide to understanding cryptocurrency
• The current regulatory climate on cryptocurrency for employee pay