A Brazilian federal lawmaker suggests that workers be paid in cryptocurrency. ~ Cryptops

A Brazilian federal lawmaker suggests that workers be paid in cryptocurrency.

Goulart's plan calls for a new law that would provide all Brazilian workers the option of requesting payment in cryptocurrency from their employers. A law has been introduced by Federal Deputy Luizo Goulart, a Brazilian legislator, to legalize crypto payments as a means of remuneration for public and private sector employees.

Goulart's plan calls for a new law that would provide all Brazilian workers the option of requesting payment in cryptocurrency from their employers. The measure, on the other hand, requires that crypto payments be issued only if the workers and the employer have reached an agreement. According to the bill's translated version:

“The percentage of payment (remuneration) in cryptocurrency will be limited to the worker's discretion. Any employer-imposed restrictions shall be forbidden."

The bill emphasizes the progression of money, from barter through fiat currencies to Bitcoin (BTC), with a focus on decentralization, which eliminates the need for "a single person or a central body."

If enacted into law, Goulart's bill will create a consensus between employees and employers on the percentages of pay paid in crypto and fiat. Goulart claims that:

"Most significantly, the idea will assist in collaborating in the settlement of the Federal, State, and Municipal governments' "cash" problem by providing payment alternatives, while also moving a massive Market Economy that lies ahead."

Goulart underlined the necessity to develop "a global economy that improves citizens' everyday lives and delivers a good quality of life for all" in his call for ratification of the idea. After 90 days from the date of approval, the measure will become law. A measure to criminalize crypto-related financial crimes was just adopted by Brazil's Special Committee of the Chamber of Deputies.

Money laundering penalties have been increased, as have the minimum jail sentences for related offenses, as a result of recent regulatory changes. According to Cointelegraph, the punishment has been doubled from one-third to two-thirds of the laundered money, with prison terms increasing from ten to sixteen years and eight months.

"People have nowhere to turn since there is no regulation." In Brazil, the market will progress and adjust. According to Federal Deputy Aureo Ribeiro, “profiteers will no longer use technology to defraud millions of Brazilians.”