Brazilian Bill Proposes Legalization of Bitcoin Salary Payments

According to PANews, former federal deputy Luiz Phillipe of Orleans-Braganza has introduced a bill to the Brazilian Congress seeking to legalize salary payments in Bitcoin. The legislation aims to allow Brazilian workers to receive up to 50% of their wages and benefits in digital assets. The proposed bill does not mandate Bitcoin acceptance but provides a legal framework for residents interested in adopting emerging technologies. Employees can opt to receive their compensation in Bitcoin with employer consent and can discontinue this payment method at any time. The bill stipulates that 50% of salaries must still be paid in Brazilian reais to ensure currency practicality. However, this provision does not apply to freelancers, foreign nationals, or self-employed individuals, with the Brazilian Central Bank overseeing related matters. For the bill to proceed, it requires approval from the full House of Representatives and a majority vote before moving to the Federal Senate for final consideration.