Salaries of workers in Brazil to be dished out in Bitcoin: new draft bill

A new draft bill seeks to allow workers in Brazil to be paid their salaries in Bitcoin (BTC). This bill is spearheaded by Luizão Goulart, a deputy in the Brazilian government. According to the draft bill, new changes need to be made in the current laws, which constricts workers to be only paid in the native currency (Brazilian Real).

The draft bill was brought out to the Deputies Chamber of Brazil on Nov 5th where Luizão Goulart shared his goal behind the proposal of this new draft bill. According to Goulart, the natural evolution of money is imminent and is the sole reason behind this draft bill.

“Money was one of the greatest creations in the history of humanity,” said the draft bill. “It allowed us to rise from a primitive barter-based society to an extremely complex and productive society.” 

Brazil moving towards crypto adoption?

Luizão Goulart, the bill’s author, pointed out the evolution of blockchain technology and how Bitcoin comes atop the current monetary system. The bill further points out the situations in which Bitcoin was created and how it climbed so high in the matter of a few years.

“At the peak of the financial crisis of 2008, Satoshi Nakamoto, in their white paper, proposes a ‘digital monetary system’ without the need of trust in a financial institution,” the draft bill states. “Our proposition meets this modernity, establishing that a worker may optionally receive part of their income in any type of cryptocurrency existent in the Financial Market.”

As previously discussed by TheCoinRise, the central bank of Brazil saw a huge surge in crypto-related purchases, nearing 4 billion USD. Another bill introduced in the nation sought to impose stricter laws on crypto-related businesses and legalize BTC in the nation. As previously mentioned in a report by TheCoinRise, this attempt to release the bill was deemed as false.