Brazilian deputy has proposed to introduce labor payments in cryptocurrency

The bill highlights the evolution of finance from fiat currencies to bitcoin, emphasizing the decentralization aspect

08.11.2021 - 14:15

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What's new? Luizão Goulart, deputy leader of the Brazilian Republican Party, has proposed a bill to legalize crypto payments as a way of paying for public and private sector workers.

Deputy Goulart's proposal

What is the essence of the bill? Goulart's proposal aims to pass a new law that will allow all Brazilian workers to receive remuneration in cryptocurrencies. However, the bill provides that cryptocurrency payments will only be possible after a mutual agreement between employees and employers. The bill highlights the evolution of finance from the barter system and fiat currencies to bitcoin, emphasizing the decentralization aspect. It states:

“The limits of the percentage of payment (remuneration) in cryptocurrencies will be of the worker's free choice. Any imposition by the employer will be prohibited.”

What does the deputy say? Goulart stressed:

“Most importantly, the proposal will help collaborate in the resolution of the cash problem of the federal, state, and municipal governments by offering payment alternatives. At the same time, it will be able to move a gigantic market economy that lies ahead.”

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