Can a subcontractor be paid to binance account?

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My client has subcontructors outside of UK they asked him to pay they invoices to a binance account. The reason why they asked it because the exchange rate will be  better if they get the money through binance account. I wonder if it is legally to pay someone in that way? 

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By David Ex
14th Mar 2023 14:04

If the client’s bank is UK based and they have no objection then I imagine it’s legal.

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Replying to David Ex:
By Ruddles
14th Mar 2023 14:22

Although I read that Binance is suspending GBP transfers into the fund, so that may be an issue for the client.

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Replying to Ruddles:
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By David Ex
14th Mar 2023 14:31

Ruddles wrote:

Although I read that Binance is suspending GBP transfers into the fund, so that may be an issue for the client.

Sure there are lots of issues and legality likely only one!

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By Anzselika
14th Mar 2023 15:40

Thank you all.

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By nrw2
14th Mar 2023 17:40

It's legal to pay someone with anything legal which they agree to - including GBP, USD, BTC, cows and sheep. It then needs to be accounted for and taxed compliantly.

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