A newly introduced bill in Brazil aims to allow wages to be paid partially in bitcoin, enabling workers to receive up to 50% of their salaries in cryptocurrency. The proposal includes provisions for worker education on volatility and requires payment statements from employers. First sponsored by Luiz Philippe de Orleans e Bragança, the bill awaits consideration by the Chamber of Deputies and Senate.
A new legislative proposal has been introduced in Brazil, aiming to permit the payment of wages and other work-related compensations in bitcoin or similar virtual assets. The bill, titled “Regulation of the Payment of Salaries, Remunerations, and Labor Benefits with the Use of Virtual Assets,” enables workers to receive a portion of their salaries in cryptocurrency, subject to regulatory approval.
Sponsored by Luiz Philippe de Orleans e Bragança, the bill must first pass through the Chamber of Deputies before being considered by the Senate. If approved, it would allow employees to receive up to 50% of their wages in bitcoin, contingent upon mutual agreement between employees and employers. However, total wages must still comprise at least 50% national fiat currency.
Companies will be obligated to provide comprehensive payment statements and to educate employees on the market fluctuations and security associated with crypto assets. Such measures aim to ensure workers are informed of the potential risks involved.
De Orleans e Bragança emphasizes the need for this proposal as a way to position Brazil within the evolving realm of digital finance, aligning its approach with nations like Portugal, Japan, and Switzerland, which have already embraced similar regulations.
The proposal could potentially attract investment from financial firms, thereby fostering innovation and enhancing worker independence regarding wage reception. Additionally, the use of stablecoins, which hold popularity in Brazil, may help mitigate risks associated with inflation and currency devaluation.
Despite its potential benefits, the bill is still undergoing initial reviews, and its future remains uncertain as it awaits legislative approval.
In conclusion, the proposed bill in Brazil seeks to enable wage payments partially in bitcoin, aiming to align with global digital finance trends while ensuring both worker education and security. If successful, this legislation could bolster innovation and attract investment, providing workers greater flexibility in salary payment options. However, the proposal is still subject to legislative evaluation and approval before becoming law.
Original Source: news.bitcoin.com
