Brazilian MP offers crypto payment option for workers

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Goulart’s proposal aims to establish a new law that will allow all Brazilian workers to have the opportunity to request their wages and salaries from their employers, in cryptocurrencies. But the bill ensures that crypto payments will only be made after a mutual agreement has been reached between the workers and the employer. The translated version of the bill reads as follows:

“The limits of the percentage of payment (remuneration) in crypto-currencies will be the free choice of the worker. Any taxation by the employer will be prohibited.

The bill considers the evolution of finance – from a barter system to fiat currencies, then to Bitcoin (BTC).

If enacted, Brazilian MP Goulart’s bill will establish a consensus between a particular worker and their employer to predetermine what percentage of the worker’s pay will be in crypto and fiat.

Goulart also explained in more detail the need to create some kind of global economy that will improve the daily life of citizens while providing a good quality of life for all. The bill will be adopted 90 days after the date of approval.

Meanwhile, in related news, a special committee of the Brazilian Chamber of Deputies recently approved a bill to sanction crypto-based financial crimes.

The latest regulatory changes have seen earlier penalties for money laundering increased. For example, the sentence that was previously one-third of the amount of money laundered has been increased to two-thirds, while the prison sentence has also been reduced from 10 years to 16 years and eight months.

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