El Salvador's Minister of Labor and Social Welfare Rolando Castro says that the government is currently discussing whether companies should pay salaries in Bitcoin, according to Telenoticias21.
The details about the new plan remain scant, and it's unclear how employers will be able to mitigate the cryptocurrency's volatility.
The Ministry of Economy and the Ministry of Finance are jointly working on the issue together with the Ministry of Labor and Social Welfare.
El Salvador’s 2001 Monetary Integration Law includes Article 7, which states that all salaries were payable in dollars when the country replaced the Salvadoran colon with the greenback during Francisco Flores's presidency.
Last week, Congress passed President Nayib Bukele's groundbreaking Bitcoin bill with a supermajority vote, making El Salvador the first country to adopt the cryptocurrency as legal tender.
Merchants will be able to price goods and services in Bitcoin, but the U.S. dollar will still be used as the reference currency for accounting purposes.
El Salvadorians will also be able to pay tax contributions in the flagship crypto.
On top of that, the tropical country plans to utilize geothermal energy generated by its volcanoes for mining.
Sourch link
. 
. 
. 
. 
. 
. 
Shop
Topic: El Salvador Government Discussing Paying Salaries in Bitcoin (Read 407 times)
Latest news: