Compiled from: Supreme People's Court
 
Case review
On May 20, 2019, Shen Moumou joined a company and signed a labor contract stipulating a monthly salary of 50,000 RMB. Shen's actual monthly salary was paid as 2,574 RMB plus a certain amount of virtual currency. On October 17, 2020, Shen resigned for personal reasons. On November 27, 2020, the company was dissolved, with Hu Mou and Deng Mou as its shareholders. Subsequently, Shen filed a lawsuit with the People's Court, requesting Hu and Deng to pay wages and other amounts totaling over 530,000 RMB.

 
 

The trial court held that the employer should pay the worker full and timely labor remuneration in accordance with the labor contract and national regulations. Article 16 of the "Law of the People's Republic of China on the People's Bank of China" stipulates that the legal tender of the People's Republic of China is the Renminbi. Article 5 of the "Interim Provisions on Wage Payment" states: "Wages shall be paid in legal tender. They shall not be replaced by payment in kind or securities." Paying wages to workers in virtual currency violates legal provisions and should be deemed invalid. Hu's claim that wages should be paid in virtual currency lacks legal basis, while Shen's request for payment in RMB complies with the law and should be supported. The promise made by Hu and Deng upon the company's dissolution that there were no unsettled wage matters was inconsistent with the facts, and they should bear responsibility for the company's debts. Therefore, the court ruled that Hu and Deng should pay Shen a total of 278,199.74 RMB in wages and other amounts.
 
 
"Law of the People's Republic of China on the People's Bank of China"
Article 16 
The legal tender of the People's Republic of China is the Renminbi. All public and private debts within the territory of the People's Republic of China shall be paid in Renminbi, and no unit or individual may refuse to accept it.
 
 
"Interim Provisions on Wage Payment"
Article 5 
Wages shall be paid in legal tender. They shall not be replaced by payment in kind or securities.
 
 
[1] The author's perspective
From the above laws and regulations, it is clear that the Renminbi is the legal tender of China, and wages shall be paid in Renminbi. In this case, the company's payment of labor remuneration in virtual currency clearly violates legal provisions. The judgment in this case denies the legality of paying wages with virtual currency, which has a positive effect on regulating corporate employment practices, while also protecting the legitimate rights and interests of workers and enhancing risk awareness and legal awareness among both workers and employers.