Brazil’s Bold Move: Legalizing Salaries in Bitcoin?

Jakarta, Pintu News – Brazil’s National Congress recently accepted a bill that proposes legalizing the payment of salaries with Bitcoin (BTC) and other cryptocurrencies.

The initiative was proposed by Luiz Phillipe of Orleans-Braganza, a former federal deputy from Sao Paulo, who sees great potential in the integration of blockchain technology in the wage payment system.

The bill aims to give workers the option to receive up to 50% of their salary and entitlements in digital assets. This move is expected to strengthen Brazil’s position as a global digital asset hub.

Bill Details

The bill proposed by Phillipe does not require the exclusive use of Bitcoin (BTC), but rather provides a legal basis for citizens who wish to be exposed to this new technology.

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Workers who agree with their employers can start receiving employment rights in Bitcoin (BTC) and can stop this payment method at any time they wish. According to the draft, 50% of salaries should still be paid in Brazilian Real (R$) to maintain the currency’s usefulness.

However, this provision does not apply to freelancers, expatriates, or self-employed workers, who are supervised by the Brazilian Central Bank.

Impact on Brazil’s Digital Economy

Phillipe emphasized that the bill will position Brazil as a more competitive global digital asset hub.

He argued that this would attract foreign technology investment to the country and give employees more autonomy and choice in their employment rights.

In addition, Brazil has shown a supportive attitude towards digital assets with a clear regulatory framework. This has created a conducive environment for virtual asset operators, with Binance recently securing a broker license in the country.

Global Trends and International Comparisons

Brazil is not the first country to consider Bitcoin (BTC) as a method of paying salaries and remuneration. A lawmaker in Argentina has also proposed a similar bill in 2021.

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Additionally, a court in the United Arab Emirates recently recognized the payment of salaries in this leading cryptocurrency, signaling its growing global adoption.

This recognition shows a growing trend where more countries are starting to see the potential of cryptocurrencies not only as a means of investment but also as a medium of daily transactions.

Overall, with this draft law, Brazil has the potential to become a pioneer in the adoption of cryptocurrencies in the salary payment system. This move will not only strengthen the digital economy but also provide greater financial flexibility for workers across the country.

Going forward, cryptocurrencies may become an integral part of everyday economic life, as acceptance grows and regulations become favorable.

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Reference:

• The Crypto Basic. Brazil Introduces Bill to Legalize Salary Payment in Bitcoin. Accessed on March 17, 2025