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.
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