Luizão Goulart, Brazilian Federal Deputy, and congressman has proposed a bill that would make crypto a legal form of payment for workers in both the private and public sectors in Brazil
The proposal made by Goulart is planning to create a new law that will let Brazilian workers have the option of asking for their salaries and wages in crypto. The bill mentions that crypto payments could be realized only as a result of a mutual agreement between the employer and the workers.
The text reads:
“The limits of the percentage of payment (remuneration) in cryptocurrencies will be of the worker’s free choice. Any imposition by the employer will be prohibited.”
The bill takes into consideration the evolution of finance – from a barter system to fiat currencies, followed by, of course, Bitcoin.
If the bill is passed and becomes law, it will create a consensus between the worker and their employer for deciding what percentage of the salary would be offered in fiat, and what percentage in crypto.
Goulart highlighted the need for creating a global economy that could make the daily lives of citizens better and offer everybody a good quality of life. If it gets approved, the bill can become law 90 days later.
Brazil Takes Crypto Seriously
At the same time, the Special Committee of Brazil’s Chamber of Deputies has decided on a bill that will penalize crypto-based financial crimes.
The newest regulatory amendments means that the previous penalties used for money laundering are now increased. For example, the penalty that used to represent one-third of the amount of laundered money was now raised to two-thirds. At the same time, the prison term has grown from 10 years to 16 years and eight months.
Indeed, it seems that Brazil is ready for crypto, more so than other countries that are global superpowers, which is good news.