Brazilian congressman Luizão Goulart, has proposed a bill to authorize crypto payments as a mode of payment for public and private sector workers.
The proposal seeks a new law that allows all Brazilian workers to have an option to request employers for remuneration in cryptocurrencies.
The bill highlights the development of finance from a barter system to fiat currencies to Bitcoin focusing on the decentralization feature, which removes the reliance on “a single person or a central entity. If signed, the bill will create an agreement between the workers and the employers for determining the percentages of remuneration in crypto and fiat.
Brazil’s Special Committee of the Chamber of Deputies recently approved a bill to penalize crypto-related financial crimes. The latest regulatory amendments have increased the penalty for money laundering in addition to raising the minimum prison terms for similar crimes. The penalty has been increased from one-third of the amount of laundered money to two-thirds while the prison times have been increased from 10 years to 16 years and eight months.
