New bill proposes to use Bitcoin to pay wages in Brazil

Key facts:
  • The new project proposes that a part of the Brazilian salary can be paid with Bitcoin.
  • The previous project is already in the hands of the plenary session of the Chamber of Deputies.

The Brazilian deputy Luizão Goulart, presented a new bill before the congress of his country. On this occasion, the proposal contemplates legalizing the payment of salaries with Bitcoin, according to the local portal, Livecoins.

According to the information , Luizão Goulart raised the project before the Board of Directors of the Chamber of Deputies this Friday, November 5.

The use of Bitcoin as “current currency” is not yet legally recognized in Brazil. However, a bill previously presented by another congressman, contemplates the legalization of payments with bitcoin in Brazilian territory . This first bill has already been approved by a special commission, and is ready to be discussed by the deputies in plenary.

In the document presented this Friday, it is stated that the salary of Brazilians may be partially paid with cryptocurrencies such as bitcoin. The system would be optional for all workers, both in the public and private sectors . In addition, it points out that the proportion of the payment in bitcoin will also be freely chosen by the beneficiary. In this sense, the worker who chooses to receive payments in BTC, must expressly request it from his employer.

As part of the justification of the proposal, the deputy states that, in addition to inserting himself in the evolution of payment systems, he collaborates with “the resolution of the problem of ‘cash’ of the Federal, State and Municipal Governments.” In this case, bitcoin is presented as a plausible payment alternative .

Brazilian MPs have tried on several occasions, since 2015 , to reach an agreement to establish a legal framework for Bitcoin. As reported by Cryptolafinance, several versions of the legal text have been discussed in parliament , still without positive results.

However, the deputy Luizão Goulart states in his project that the current scenario shows a different reality. Even the mayors of several American cities announced that they will start receiving their salaries entirely in bitcoin.

Donald M. Ashe

I am Donald M. Ashe, Understanding your needs as a Professional and high-end copywriter, we have developed a full and extensive essay to assist you, as the Online Business Editor.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button