Bill Proposes Legalizing Bitcoin Salaries in Brazil

Bill Proposes Legalizing Bitcoin Salaries in Brazil
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Bill Proposes Legalizing Bitcoin Salaries in Brazil

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According to livecoins, the proposal seeks to regulate salary payments in “digital assets”, including Bitcoin and other cryptocurrencies.

Presented by Orleans e Bragança (PL/SP), a descendant of Emperor Dom Pedro II, the bill aims to regulate salaries. It also covers compensation and labor benefits through virtual assets.

Crypto Salaries with Regulations and Worker Protections

The bill is in its early stages. It must pass through the Chamber of Deputies before moving to the Federal Senate for final approval. It proposes that salaries can be partially paid in crypto, but only if both employer and employee agree. At least 50% of wages must still be paid in Brazil’s national currency.

To ensure transparency, the value of crypto payments would be based on official exchange rates. These rates would come from an entity authorized by Brazil’s Central Bank. Employers must also provide detailed payment statements and offer financial education programs to workers choosing this option. These programs would cover market volatility and transaction security.

The bill prohibits full salary payments in crypto—except for expatriates and freelancers, following Central Bank regulations. The Federal Revenue Service and the CVM (Brazil’s Securities and Exchange Commission) would monitor transactions. Their goal is to prevent fraud and financial scams.

More About Bitcoin Adoption in Salaries

Bhutan’s Prime Minister highlighted how Bitcoin mining has strengthened the country’s economy, funding essential services like free healthcare and environmental initiatives. Most importantly, he revealed that Bitcoin helps pay public servants’ salaries, ensuring stable government operations.

He questioned why more governments aren’t adopting similar strategies, emphasizing Bitcoin’s potential to support national budgets without relying on debt or inflation.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may be different from yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

The post Bill Proposes Legalizing Bitcoin Salaries in Brazil appeared first on Altcoin Buzz.





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March 17, 2025 at 05:58AM

March 17, 2025 at 06:01AM
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