Proposed bill could see Brazilian Workers being paid in cryptocurrency

A Brazilian Federal Deputy is attempting to pass a bill that would enable Brazilian workers to choose to be paid in cryptocurrency. The congressmen believes this would modernise the current financial system, and solve the country’s cash problem.

Congressman Luizão Goulart recently submitted a bill to the Board of Directors of the Chamber of Deputiesthat, that would allow Brazilian private and public sector workers to have part of their salary in cryptocurrency. The bill outlined that the percentage of payment in crypto would be decided by the workers and not the employers. 

Goulart’s bill noted:

“The limits of the percentage of payment in cryptocurrencies will be of the worker’s free choice. Any imposition by the employer will be prohibited...Our proposition is in line with this modernity, establishing that, optionally, the worker can receive part of their remuneration in any type of cryptocurrency in force in the Financial Market”.

The bill cited a number of global news headlines to outline the magnitude of cryptocurrency on the global economy. Some of the headlines included football player Messi receiving part of his payment at the club PSG in cryptocurrency, as well as NFL player Aaron Rodgers who chose to have part of his salary in Bitcoin. 

The congressman also noted that the proposed bill could solve Brazil’s cash problem, stating:

“The Fourth Digital Revolution is already a Global reality. It is only up to us to adapt, reinvent and progress along this wonderful path of Modernity, aiming to establish a Global Economy that facilitates the daily lives of citizens and, above all, provides a good quality of life for all.”

Local media have covered the crypto proposal, however there is not any indication yet as to whether the bill will be passed or not. If the bill is approved, it will be passed into law 90 days following the approval.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.