Brazilian federal lawmaker proposes to provide workers with crypto payment options
Federal Representative Luizão Goulart, a member of the Brazilian Congress, introduced a bill to legalize encrypted payments as a payment method for workers in the public and private sectors.
Gulat proposal Seek a new law that allows all Brazilian workers the right to choose to require employers to pay in cryptocurrency. However, the bill guarantees that encrypted payments can only be made after a mutual agreement is reached between the worker and the employer. According to the translated version of the Act:
“The limit on the percentage of cryptocurrency payment (remuneration) will be freely chosen by the workers. Any imposing by the employer will be prohibited.”
The bill emphasizes the evolution of finance-from the barter system to fiat currency to Bitcoin (Bitcoin)-Focus on decentralization and eliminate the dependence on “a single person or a central entity”.
If signed into law, Goulart’s bill will establish a consensus between workers and employers to predetermine the percentage of compensation in cryptocurrencies and fiat currencies. According to Gulat:
“The most important thing is that the proposal will help solve the’cash’ problem of federal, state and municipal governments by providing alternative payment methods, while promoting a huge market economy in the future.”
In requesting approval of the proposal, Gulat pointed out the need to establish “a global economy that promotes the daily lives of citizens and provides a good quality of life for all.” The bill will be passed into law 90 days from the date of approval.
A special committee of the Brazilian House of Representatives recently approved a bill to punish crypto-related financial crimes.
In addition to increasing the minimum sentence for similar crimes, the latest regulatory amendments also increase penalties for money laundering. As Cointelegraph reported, the penalty increased from one-third to two-thirds of the money laundering amount, and the imprisonment period increased from 10 years to 16 years and 8 months.
“Because of the lack of regulation, people have nowhere to go. The Brazilian market will adjust ahead of schedule. There will be no more profiteers who use technology to deceive millions of Brazilians,” said Federal Vice President Aureo Ribeiro.