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Draft Bill Seeks To Allow Brazilian Workers to Be Paid in Bitcoin

by Crypto News
November 5, 2021
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Draft Bill Seeks To Allow Brazilian Workers to Be Paid in Bitcoin
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The invoice seeks to alter the present legislation that dictates Brazilian staff can solely be paid with the nationwide forex.

A draft bill searching for to permit Brazilian staff to be paid in bitcoin was introduced to the nation’s Deputies Chamber on November 5. The writer, deputy Luizão Goulart (REPUBLIC-PR), shared the pure evolution of cash as a trigger for his proposal.

“Cash was one of many biggest creations within the historical past of humanity,” per the draft invoice. “It allowed us to rise from a primitive barter-based society to a particularly complicated and productive society.”

Bitcoin is the pure evolution of cash. Whereas all earlier varieties compromised on just a few properties — divisibility, sturdiness, shortage, salability throughout time and house, and so on., Bitcoin enabled a brand new paradigm within the historical past of cash, and the deputy seen.

“On the peak of the monetary disaster of 2008, Satoshi Nakamoto, of their white paper, proposes a ‘digital financial system’ with out the necessity of belief in a monetary establishment,” the draft invoice reads. “Our proposition meets this modernity, establishing {that a} employee could optionally obtain a part of their revenue in any kind of cryptocurrency existent within the Monetary Market.”

Brazil has been making the headlines recently in the case of Bitcoin. A latest invoice that sought to legalize BTC and cryptocurrency within the nation, in addition to implement stricter guidelines for companies searching for to offer associated companies, was misunderstood as a step within the path of creating bitcoin a authorized tender in Brazil.

Total, Brazilians are huge into Bitcoin; the broader cryptocurrency market has seen more activity than the inventory market within the nation for just a few years now.

However the invoice is only a draft and was solely introduced to the chamber immediately. Deputies nonetheless want to debate it and take it to a vote for the draft invoice to start out being thought-about, and there’s additionally the likelihood that this legislation by no means will get enacted. In both case, because it was lately introduced, extra info will emerge within the coming weeks.

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.



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