Sequoia Holdings, an employee-owned, award-successful company supplying substantial-conclude program and engineering services centered on selection, analytics, collaboration, and sharing of data, is now delivering its employees with the alternative to obtain some part of their salaries in cryptocurrencies like Bitcoin.
According to the information, Sequoia Holdings will grant its workers an solution to pick out to spend some share of their salaries in cryptocurrencies i.e. Bitcoin (BTC), Bitcoin Cash (BCH), or Ether (ETH).
To set the system to action, the organization will husband or wife with or employ a 3rd-bash payroll processing company to transform the part of salaries in crypto
right after withholding the taxes from the salaries. The 3rd-party payroll processing business has not been named still and the portion of salaries that will be transferred to crypto is also unrevealed.
The system appears very similar to the 401(k) retirement approach (which enables workforce to preserve some part of their salaries in a way that lessens the tax deduction), but the level of tax deduction unique them, as in 401(k) the tax is not deducted until finally the worker is retired although in the plan made available by Sequoia Holdings the tex will be deducted periodically.
This application explicates the firm’s faith in crypto as Sequoia Holdings stated:
“Many of our staff are enthusiastic supporters of cryptocurrency, and we’re happy to aid them acquire publicity to this trillion-greenback asset class […] Cryptocurrency has emerged as an significant choice to common investments like shares and bonds.”
The Sequoia Holdings, dependent in Reston, Virginia, is the major U.S. safety assistant. It gives analytical and engineering methods to the chief U.S security departments these kinds of as U.S. intelligence, defense, and homeland stability.
Moreover, the participation of staff members in the system can give us a worthwhile insight into the community minds that what viewpoint do they keep about crypto.
