Brazil introduces new bill to legalize salary payment in Bitcoin

[ABCbits]

Brazil introduces new bill to legalize salary payment in Bitcoin

Brazil may be the next in line to legalize salary payments in Bitcoin, after the National Congress received a bill pushing for the move. According to reports, Congress received a bill that will allow employees to take their salaries and other remunerations in Bitcoin and other digital assets... Read more here.


Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.

[Charles-Tim]

I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.

[NotATether]

I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.

Of course you don't want to make a law that forces employers to pay their employees their salary in crypto currencies, because the vast majority of them still want to be paid in Brazilian Reals instead.

[yhiaali3]

It seems the Brazilian government is turning its attention to Bitcoin. I heard they're considering adding a strategic reserve of Bitcoin, and now this news comes to legalize the payment of salaries in Bitcoin.

I agree that it would be more positive news than the reserve, as it provides new uses for Bitcoin on a monthly basis. However, on the other hand, problems will arise due to the increase in transactions on the network, and they may also face problems due to price volatility.

[TryNinja]

As a Brazilian, I can say that this is probably not happening.

A federal deputy can send many bills for voting, it doesn't mean even a part of the remaining politicians agree with it. Sometimes they know that very well, but they still do that for the headlines and to gain votes (i.e crypto people will look at him with good eyes). Knowing what we have here as our representatives, chances of this bill being approved are very very low.

[Stompix]

It seems the Brazilian government is turning its attention to Bitcoin. I heard they're considering adding a strategic reserve of Bitcoin, and now this news comes to legalize the payment of salaries in Bitcoin.

Just as Tryninja said, this is a proposition as a bill, it needs to be voted first.
Go to the house legislature portal and check the amounts of bills just like that that have been put to vote in the US also, we haven't had a month without some astonishing bill but apart from a few proposals, nothing got through.
Argentina introduced a bill just like that two years ago, it didn't go anywhere.

Unless voters put pressure on their party by voicing their demands, they won't be in a hurry to vote anything.

[TomPluz]

This is good news though not anymore as earth-shaking if done years ago as we know that adoption of Bitcoin these days are getting to be very normal so we can not expect the crypto market to be reacting to this either positively or negatively. Besides, this is just a proposed bill and there is no guarantee that this can pass the hurdle and be signed as a law. Now, on a personal level, this can be a good option if you are in Brazil and you have some interest with Bitcoin investing. The most important thing is that this bill (if passed into law and which can take some time, really) is legalizing people's involvement with Bitcoin. Let's hope that this can successfully pass the legislative scrutiny and be enacted and implemented well as another law of the land.

[bitterguy28]

Brazil introduces new bill to legalize salary payment in Bitcoin
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Personally i find this news is more exciting than news about bill that add Bitcoin into government reserve, since it add Bitcoin use-case besides investment. Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.

i also do find this type of news more exciting because they will not just hold bitcoin and wait for it to rise so they can get some profit they genuinely do want to make use of bitcoin and incorporate it into their lifestyle like how bolivia plans that their energy firms use bitcoin for payment this is how bitcoin is supposed to be used anyway and it is good that countries are learning about bitcoin's use cases aside from just profit purposes

[Bobcrypto]

I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.

Yeah, though it may not involve100% salary payments but it is a step further to boost the crypto economy in terms of awareness, interest, and adoptions both now and in the future. I think that some of these developments are very important, it increases investments and market demands overtimes.
Obviously, this is a good news, though may it not reflect on the market price but should be commended by all crypto enthusiast. It shows that cryptocurrency is growing and the potential for more innovations and improvements are in progress.

[memehunter]

Brazil introduces new bill to legalize salary payment in Bitcoin

Although i have doubt this bill could be passed that easily. Your opinion is greatly appreciated.

My opinions would be the same. Especially because of the pressure from international financial institutions. iN International Relations it is not all about good for your country, it is also about not letting others go ahead.

[Rustam Meraj]

Brazil is considering new bill that would allow employees to receive up to 50% of their salaries in Bitcoin or other digital assets as long as they agree with their employers. This move could revolutionize way people get paid giving them more control over their finances. It could also boost Bitcoin adoption and establish Brazil as hub for digital assets.

While it is unclear if bill will pass easily it is significant step towards recognizing Bitcoin potential in everyday transactions. This is not  first time country has explored this idea Argentine lawmaker proposed similar bill in 2021. Means overall Bitcoin is dominating world slowly slowly. Which is really good sign for cryptocurrency world.

[ABCbits]

I also think it is nice. But only 50% of the wages or salaries can be paid in bitcoin. Also employers can decide not to pay workers in bitcoin. But despite it is not mandatory, I still think it is a good development.

IMO not making it mandatory is good choice, since otherwise this bill would have much lower chance to be passed. As for 50% limit, the news state it's because comprise to make sustain their fiat currency.

As a Brazilian, I can say that this is probably not happening.

A federal deputy can send many bills for voting, it doesn't mean even a part of the remaining politicians agree with it. Sometimes they know that very well, but they still do that for the headlines and to gain votes (i.e crypto people will look at him with good eyes). Knowing what we have here as our representatives, chances of this bill being approved are very very low.

Is it really that low, considering few years ago i heard some media outlet report Brazil legalize Bitcoin (and few altcoin) as payment method?

[hugeblack]

I don't know, but for many jobs, the employee consumes 100% to 40% of their salary before the end of the month, and during this period, the price of Bitcoin may decline, so this option will not be attractive for middle/low-income jobs. It may be good for high-income jobs or as part of pension plans or annual incentives.

[Finassets]

This could affect cryptocurrency prices because Brazil has a large economy. P.S. But usually these bills don't pass.

[yhiaali3]

Argentina introduced a bill just like that two years ago, it didn't go anywhere.

Unless voters put pressure on their party by voicing their demands, they won't be in a hurry to vote anything.

While it's still a proposal, it must first be voted on and may not garner enough votes to become law, I still see it as a positive development.

Compared to the situation a few years ago, Bitcoin was banned in most of these countries and discussion of it was forbidden in parliament. Therefore, the existence of such bills and their introduction to a vote in parliament is a positive development in itself, in my opinion.