Brazilian MP proposes bill to legalize crypto payments to public and private sector employees

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Mainstream adoption of Bitcoin is on the rise, and while we’ve heard that Miami Mayor Francis Suarez proposed the idea of ​​citizens paying taxes in BTC, reports suggest that Brazil’s new bill will allow workers to do so will accept Bitcoin as their salary. Brazilian Congressman Luizão Goulart has proposed a bill to legalize cryptocurrency as a means of payment for workers in the public and private sectors. If the bill is approved, Brazil could only be the second country after El Salvador to approve Bitcoin as legal tender.

According to a report by CoinTelegraph, the Brazilian Congressman’s bill, presented to the country’s House of Representatives, aims at a new law that will allow all Brazilian workers to ask employers for compensation in cryptocurrencies. However, the bill guarantees that crypto payments will only be made after a mutual agreement between the employees and the employer. The translated version of the bill states: “The limits of the percentage of payment (remuneration) in cryptocurrencies are freely chosen by the employee. Any imposition by the employer is prohibited. “

Goulart stated that such a move is part of the “fourth digital revolution. The evolution of finance from an exchange system via fiat currencies to digital assets is the cause of this proposal, and Bitcoin is the opposite of the current global financial system. “

At the moment it is not clear whether the proposal will be accepted; However, a September nationwide poll, a study by Sherlock Communications (via Bitcoin Magazine), shows that 48 percent of Brazilian citizens support the introduction of Bitcoin as legal tender. The same report also found that there are over 1.4 million bitcoin and cryptocurrency users in Brazil, as well as 21 BTC ATMs.

Goulart, meanwhile, believes that creating a global economy is necessary to improve the quality of life for all. The bill is expected to come into effect 90 days from the date of approval.

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Shomik is the senior editor at Gadgets 360. As someone who has explored the consumer tech space for the past four years, his focus is now on the crypto verse. When he’s not converting currency values ​​in his head, you might find him in an intense five-player soccer game or the newest Destiny 2 weekly challenge on his Xbox. You can reach him for tips or questions at ShomikB@ndtv.com. More Google Drive adds search chips functionality to find files quickly

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