TL;DR Breakdown
- Domino Pizza in Netherland to pay staff in Bitcoin
- Dutch government reduces rigid regulation on crypto economy
Following a week of ups and downs across several headlines for Bitcoin, the king of cryptocurrency, however, it recorded a massive adoption by another multinational establishment.
A subsidiary of Domino’s Pizza in the Netherlands has adopted the top digital currency offering to pay its staff in Bitcoin in a good move for the crypto space. The announcement was made on ‘BTC Pizza Day, a day set to remember the day Laszlo Hanyecz used 10,000 BTC (currently $385 million) to purchase two pizzas.
According to reports, Immensus holdings, which owns and manages dozen of Domino’s Pizza stores in the Netherlands, has offered its employees the chance to receive part of their income in BTC. Notably, employees would only be able to receive part of their income in crypto because Dutch law mandates that minimum wage must be paid in euros.
BTC Direct, a leading Dutch crypto firm with a fiat-to-crypto on-ramp, has been tapped by Immensus holding to oversee the new crypto payment for staff.
Noting that the new move would increase crypto adoption and use cases, Jonathan Gurevich, Immensus holding group co-owner, said over 1,000 people will be exposed to bitcoin due to the Immensus decision.
According to him, the Dutch subsidiary of Domino’s Pizza was offering this new service due to the growth of Bitcoin. And want to avail the opportunity to own crypto assets to its employees.
Dutch Central Bank reverses decision on Bitcoin, other cryptos
Meanwhile, in an excellent development for the Dutch crypto sector, the country Central Bank has overturned its decisions to implement stringent regulations for withdrawing digital assets from exchanges in the country.
Recall that the Dutch Central Bank implemented rules requiring crypto exchanges in the earlier part of the year to collect additional data and details from their users when they withdraw cryptocurrencies.
This motivated to BTC to drag the DNB to court, objecting to the stringent rules. It noted that the law was a severe violation of customers’ rights, adding that verifying every address for every crypto transaction has no technical merit.
However, the DNB has now announced the reversal of the registration requirement, noting it will remove the wallet-verification measures as soon as possible.
