The Brazilian National Congress is considering a bill that would allow workers to receive up to 50% of their salary in bitcoin and other cryptocurrencies.
According to local media Livecoins, the Brazilian National Congress has received a bill that could change the country’s salary payment system. The proposal, introduced on March 14 by politician Luiz Philippe of Orleans-Braganza, aims to allow workers to receive part of their wages in bitcoin and other cryptocurrencies.
Under the bill, employees could opt to receive up to 50% of their salary in digital assets, while the remaining half would be paid in Brazilian reais. This payment method would require a prior agreement between employer and employee, with the option for either party to terminate the arrangement at any time.
The proposal specifies that companies must provide detailed account statements and offer financial education to workers interested in receiving their salary in digital assets. The education should cover topics such as market volatility and transaction security.
The bill will follow the Brazilian legislative process: it will first be reviewed by the Chamber of Deputies and, if approved by the majority in plenary session, will proceed to the Federal Senate for final evaluation.
According to Brazilian law, Law No. 14.478/2022 defines Bitcoin and other cryptocurrencies as “virtual assets,” and the new proposal will use the same terminology to regulate labor activities in this context.
Philippe stated that the law will help Brazil strengthen its status as a global hub for digital assets. He also highlighted the potential to attract foreign investments to the country while ensuring that workers have the freedom to choose how they receive their wages.
