Brazilian lawmaker proposes bill to allow salary payments in Bitcoin

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MarsBit
03-17
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According to the report from The Crypto Basic, the Brazilian Congress has received a bill that proposes to legalize the use of Bitcoin and cryptocurrencies as a means of salary and compensation payment. Former federal deputy Luiz Phillipe of São Paulo submitted the bill to the Brazilian Congress on March 14, suggesting that workers be allowed to receive up to 50% of their wages and labor rights in the form of digital assets. The bill does not mandate the acceptance of Bitcoin, but rather provides a legal basis for residents who wish to engage with this emerging technology. The bill stipulates that 50% of the salary will continue to be paid in Brazilian reais to maintain the practicality of the national currency, with no such restriction for freelancers, foreigners, or self-employed individuals. Former deputy Phillipe stated that the bill will further position Brazil as a global digital asset hub, attracting foreign technology investments and granting employees autonomy in receiving their labor compensation. The proposal requires a plenary session and majority approval in the Chamber of Deputies before being submitted to the Federal Senate for a final decision.

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