NYC Mayor Adams to receive first paycheck in cryptocurrency Friday -Breaking
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Eric Adams will be the Mayor of New York City on Thursday AnnoucedHe’d be taking He received his first salaryIn (BTCEther (ETHThe funds will arrive Friday (at 11:59 pm). It will not directly be paid in crypto. Instead, the salary will first be issued in fiat dollars. Then it will be converted to digital currency on crypCoinbase.
Residents of the United States cannot typically receive their remuneration in cryptocurrency due to regulations at state and federal levels. The Internal Revenue Service considers dollar wages income. However, stock-based or cryptocurrency compensation is considered property.
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