Costa Rica News – The crypto industry is evolving quicker than expected, and one of the most surprising evolution stories is that of the Costa Rican crypto industry. Generally seen as a peaceful and serene Central American nation, Costa Rica is now making headway in the crypto industry and really making its mark.
As we see many parts of Eastern Europe, Africa, and Asia continue to move their crypto industries forward, it is now time for the Costa Rican crypto industry to shine.
Costa Rican crypto industry news
In recent crypto news that elevates the Costa Rican crypto industry to another level, local workers can now choose for part of their salaries to be paid in cryptocurrencies. Rolando Perlaza, a respected lawyer from a major Central American law firm called Nassar Abogados, commented on the news by saying that “ this is a trend that could take hold in the country.”
“This type of payment would in no way replace traditional or liquid cash. It would rather become an incentive for the workers, who could decide if they accept these currencies as a payment for their services. They are protected under the article 166 of the Labor Code.”
Costa Rica has always been a forward-thinking nation in terms of crypto implementation going back to October 2017 when a directive was issued that established cryptocurrencies outside of the national banking system. The directive pointed out the possibility of making commercial transactions using crypto and that Costa Ricans can calculate the financial risks like any grown-up would.
Perlaza went onto conclude that “it is clear that in Costa Rica, cryptocurrencies cannot be used as cash or liquid wages, but remember that here you can pay part of the salary with other goods that are not money or currency, provided that the legal minimum wage is recognized with money.”
Costa Rica already has the crypto infrastructure in place
While many nations still flounder on crypto implementation, the Costa Rican crypto industry is in a very healthy place as we speak. While supposedly ‘modern’ nations still find it difficult to accept crypto, with US congressmen not wanting us to think for ourselves, it is refreshing to know that Costa Rica already has ATM machines that issue bitcoin. The rate of local companies, businesses and shops who are incorporating crypto is rapidly growing, with the crypto environment across the nation becoming open to all kinds of crypto ventures.
Crypto mining is also becoming popularized across the nation as local entrepreneur and alternative energy specialist, Daniel Yepez from SH Mining Technologies recently stated: “Cryptocurrencies are here to stay and we are embracing the changes. Our company provides its customers with a vast array of mining options.”
Yepez went on to say that Costa Rica offers very favorable conditions for crypto mining and has a 100% renewable energy capability that could hugely benefit crypto miners looking for somewhere to set up operations across Central America.
It would seem that the future is extremely bright for the Costa Rican crypto industry in terms of employees being paid in crypto, new business ventures and even mining opportunities.
By Alan Wass, Crypto Disrupt
