News

Be aware of all developments relating to cryptocurrency, track trends and rates ups and downs, learn all about Mining and complexities of the Bitcoin system and be sure you will be aware of the most urgent and important news of World Mining company.
"The World - that is, information that grows over time."
"He who owns the information, owns the world."

Internet Company Asks Israeli Authorities Permission to Pay Salaries in Bitcoin

Internet Company Asks Israeli Authorities Permission to Pay Salaries in BitcoinThe Israeli high-tech sector is currently undergoing a severe talent squeeze, with companies having to compete over employees with higher salaries, stock options and better perks. One such company might have found a new way to attract and retain tech-savvy staff in this environment: offer to pay salaries in bitcoin. Now it only remains to be seen if the country’s authorities will permit the plan. Also Read: Founder of Tron Altcoin Justin Sun Takes Over Bittorrent Inc

Spot.IM Wants to Pay Bitcoin Salaries

Internet Company Asks Israeli Authorities Permission to Pay Salaries in BitcoinAn Internet company with offices in Tel Aviv, Spot.IM, is in negotiations with the Israel Securities Authority (ISA). The talks are said to be primarily about the appropriate exchange rate, a critical issue for making this work, and it is expected that the sides will reach some agreements over the next month or so, which will allow the plan to go forward. The company has also brought the matter to the attention of the Labor Ministry, which says its officials are looking into the subject. The plan is that any employee that wishes it can accept the total or a portion of his paycheck in bitcoin, with the company absorbing the costs of the high shekel conversion fees. Spot.IM is not part of the cryptocurrency ecosystem but of the established Internet industry. It helps media website manage their social engagement and comments section, and among its clients it lists Time Magazine, NBC, Huffington Post, Engadget, Fox News and other big names. The company has raised a total of about $38 million since it was founded in 2012, and its latest round in November 2017 brought in $25 million in Series C funding from Russian billionaire Roman Abramovich and other venture capitalists.

Can They Make Banks Trust Bitcoin?

Internet Company Asks Israeli Authorities Permission to Pay Salaries in BitcoinWhile Israeli law doesn’t officially recognize bitcoin as a currency, nor a security, the tax system does accommodate for including anything of value in calculating salaries. As such, it’s not as if the company would violate the law by not approaching the regulators for permission beforehand. Therefore it seems that, besides an abundance of caution by its legal support, the goal is mainly to prevent future complications with the hostile banking system by getting a seal of approval from the state bureaucrats. Ido Goldberg, Head of Spot.IM’s operations in the country, told Israeli newspaper Calcalist that: “As ones who deal with some of the most advanced technologies every day, we are great believers in the future of cryptographic currencies. Still, currencies are built on trust, and to create such trust companies, organizations and institutions will have to recognize cryptographic currencies as legitimate.” Would you want to accept part of your salary in bitcoin? Share your thoughts in the comments section below. 
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Internet Company Asks Israeli Authorities Permission to Pay Salaries in Bitcoin appeared first on Bitcoin News.

Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand
Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand

The Thai Securities and Exchange Commission (SEC) has announced the names of seven cryptocurrency firms that have been authorized to legally operate in the country. Five of them are crypto exchanges; two are cryptocurrency dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Seve...

16.08.2018, 06:25Read more
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud. Also rea...

16.08.2018, 04:25Read more
Five Benefits to a Bear Market
Five Benefits to a Bear Market

We’ve been in a slump for a while now, and by the looks of it will remain in one for a good while longer. How long, how low, and how slow the recovery is anyone’s guess. If you’re reading these words, you’re still here, and thus it’s safe to assume you’re in this for the […] The post Five Bene...

16.08.2018, 02:05Read more
BountyCryptocurrencies
Video