Great news for those who reside in The Emirates. Theyve been forward thinking & open to innovation & entrepreneurship for a long time now. They have no taxes on salaries & capital gains also. For some it could be the perfect place to move to, in order to avoid tyrannical, commie Western Governments.
The western government policies have made it very hard for cryptocurrencies like bitcoins to thrive there, I havent seen any that has good sense of judgement on bitcoin or cryptocurrency. Good news that they dont tax on salaries and and capital gains, it makes bitcoin a more attractive options for workers there to use as alternative to receive salaries, it has saved those that want to invest in bitcoin the process of buying. Good move by the government and Im still hoping that more countries as significant as Dubai follow same path.
Well, it's highly likely that employees will prefer fiat more than bitcoin as a salary payment due to volatility, but maybe out of 10 employees, there might be 1 employee who will prefer bitcoin most especially if he knows well about bitcoin. I guess in the long run, if bitcoin will be highly acknowledged in Dubai in the future, then receiving their salary will be based already on their own request or preference.
It has to be based on that and not compulsory to be used by all workers from Dubai. Without them even understanding the concept behind the technology, its not advisable they just accept to switch payment to that method. If their money gets affected by the volatility nature of the market, they will have a forever bad impression about bitcoin and cryptocurrency and wont share the positive part of it. It should just be an alternative option and not a compulsory option.