A former federal congressman in Sao Paulo, Brazil, has submitted a bill to the Brazilian Congress seeking to legalize Bitcoin salary payments
Internet reports that Luiz Phillipe of Orleans-Braganza, former Federal Congressman in Sao Paulo, Brazil, has submitted a bill to the Brazilian Congress seeking to legalize Bitcoin salary payments. The politician proposed legislation to allow the Brazilian worker to receive wages and labor rights in the form of cryptocurrency. The bill aims to allow workers to receive up to 50% of their wages and benefits in the form of digital assets. It is worth noting that the bill does not mandate the acceptance of Bitcoin, but provides a legal basis for residents who want to be exposed to emerging technologies. With the employer's consent, employees can choose to obtain labor rights and interests in Bitcoin and can terminate this payment method at any time. The bill also stipulates that 50% of salary still needs to be paid in Brazilian real to ensure currency practicality. However, this clause does not apply to freelancers, foreigners and self-employed persons, and relevant matters are supervised by the Central Bank of Brazil. The proposal needs to be approved by the plenary session of the House of Representatives and a majority vote before it can enter the U.S. Senate for final review.
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