Businesses and governments continue to embrace cryptocurrencies as a means of payment. Brazil’s Deputy Luizao Goulart proposed recently a bill that would allow bitcoin-paying workers in the public and private sectors. This bill, if passed, would be the largest national initiative to support digital asset adoption after El Salvador’s legal tender laws.
What’s in the Bill?
This bold bill, which was introduced earlier this week, comes amid ongoing Brazilian regulatory debates about Bitcoin. First, the bill states that workers can be compensated partially or optionally for their crypto work.
“This Law provides that a portion of the worker’s remuneration can be made via cryptocurrencies.
This bill, unlike El Salvador’s, emphasizes the flexibility of the proposal. Nayib Bukele’s Bitcoin bill drew criticism for article 7, which mandates that all businesses accept Bitcoin payments, despite the fact that the president has repeatedly stated that the use of BTC is optional.
This law would instead allow employees to decide how much of their salary they receive in crypto. The proposed remuneration must be approved by the employer.
The deputy defended the bill and explained that adaptation was necessary during “the fourth digital revolution.”
The deputy concluded by saying that they have the future in their hands.
“It is up to us only to adapt, reinvent, and move along this amazing path of Modernity to create a Global Economy that facilitates daily life and provides a high quality of living for all.”
Some evidence suggests that Brazil would welcome this proposal. According to a September poll, 48% of respondents support Bitcoin as their official currency. As Goulart said, Bitcoin was the most popular and well-known cryptocurrency among citizens, as opposed to other altcoins.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.