> Transferring money across regions with the best 'normie' tools (eg Transferwise/wise.com) is multiple orders of magnitude more expensive than $0.0000015 (tranferring USDC or another GENIUS-compliant stablecoin on Solana).

I don't see how that's relevant to YC startups. Startups can't legally pay their employees in crypto through transfers, any more than they can write checks out of their bank account or pay their employees in cash. I've paid an overseas employee in BTC before, but we still had to go through a payroll provider and do everything above-board to satisfy IRS requirements.

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splix 15 hours ago | parent | next [-]

I'm curious why you can't legally pay in crypto? I heard a few times about companies paying in crypto to their remote workers. In fact I heard that a US company was paying in BTC withing the US, though I'm not sure I trust this particular story. I also see that Deel accepts USDC, and to my understanding they convert to local currency of the remote worker. Is that all illegal? Truly want to understand.

	▲	wmf 11 hours ago \| parent [-]
		It's probably legal as long as you do all the same accounting/withholding that you would normally do. I suspect some companies are forgetting to do that, just as many people forget to report taxes on crypto.

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direwolf20 3 hours ago | parent | prev [-]

Is it really illegal for US companies to pay their employees in cash or cheques?