Federal Representative Luizao Goulart, a member of the Brazilian Congress, has proposed a bill to legalize cryptocurrency payments as a method of payment for public and private sector employees.

Goulart’s proposal aims to pass a new law that will allow all Brazilian workers to ask employers to receive payment in cryptocurrency. However, the bill ensures that payments in cryptocurrency only take place after the sale of a mutual agreement between employees and the employer. According to the translated version of the invoice:

«The percentage limits for payment (bonus) in cryptocurrency will be at the employee’s choice. Any order from the employer is prohibited. ”
The bill highlights the development of finance – from exchange and fiat currencies to bitcoin (BTC) – with an emphasis on an aspect of decentralization that removes dependence on “one key person or organization”.

If the law is signed, the Goulart bill will establish a consensus between workers and employers on predetermined wage percentages in cryptocurrencies and securities. According to Goulart:

“The most important thing is that this proposal will help work together to solve the ‘monetary’ problem for the federal, state and municipal authorities by offering alternatives to payments and at the same time driving a giant market economy forward.”
To seek approval of the proposal, Goulart referred to the need to create a “global economy that will facilitate the daily lives of its citizens and ensure a good quality of life for all.” The bill will be passed 90 days after the approval date.

About the topic: Brazil seeks to tighten penalties for economic crime related to cryptocurrency

The Brazilian Council’s ad hoc committee recently approved a bill to penalize cryptocurrency-related economic crimes.

Recent regulatory changes have tightened penalties for money laundering in addition to increasing the minimum prison sentence for similar crimes. As the Cointelegraph reported, the fine was increased from one-third of the money laundered to two-thirds, and prison sentences were increased from 10 to 16 years and eight months.

“Due to the lack of regulation, people have nowhere to turn. The Brazilian market will evolve and adapt. Federal MP Oero Ribeiro said there will no longer be recipients using technology to defraud millions of Brazilians.

LEAVE A REPLY