Brazilian Congressman proposes Crypto Payment for workers

[Blawpaw]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

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[DapanasFruit]

Well, let's hope that this proposed bill can see the light of day or get approved and then implemented. There is no question that cryptocurrency is getting into the mainstream and more and more politicians especially outside of USA are getting their eyes on how cryptocurrency can be working for them and their people. Will it mean that soon we can see cryptocurrency getting into the everyday lives of the people? I am hoping so.

[cabron]

Almost every day there is news like this the NY mayor will receive his first 3 months of compensation in BTC. It's good to learn influential people are not pushing out the innovations of today. If it's becoming a trend so why not pass a bill. But the first the I'm expecting is the country El Salvador that will pass this bill.

Well, let's hope that this proposed bill can see the light of day or get approved and then implemented. There is no question that cryptocurrency is getting into the mainstream and more and more politicians especially outside of USA are getting their eyes on how cryptocurrency can be working for them and their people. Will it mean that soon we can see cryptocurrency getting into the everyday lives of the people? I am hoping so.

It's in South America I would assume the government officials are cooperative when it comes to something like this since BTC is more adopted in the region.

[Taskford]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

As I am a bitcoin user I would love to accept bitcoin as payment for my work done, but for other who doesn't know about it or have less knowledge about it maybe its dangerous for them to accept bitcoin knowing the volatility is high and they can't leave their balance on their wallet since there's a chance that their holdings will get less value especially when dump happens and that will be a huge problem for the worker especially if that amount he receive is the only money he have and hopefully the government should consider this flaws, maybe before implementing this they should have proper information drive about bitcoin first since for sure this will help them understand the new technology introduced to them.

[yohananaomi]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

As long as it's done for improvements for workers in general, of course what is being done with the proposed payment using crypto, is definitely progress. because we cannot avoid progress that has penetrated all sectors and we must update it.

but i don't understand about brazil, are their workers really paid according to the work they get and can prosper?
if you have reached the point of prosperity, it is clear that it is very useful to pay using crypto.

if the country is still developing and the payment for workers is still too small, I don't think it is worth paying with crypto. because usually their salary will always run out for their daily needs, it's no wonder they don't even have a salary left. paying using crypto will only add to the burden for them, it doesn't seem effective, other than maybe only those who have a certain salary, there must be criteria first.

[Slow death]

I keep wondering how is the situation of retirement pension deductions, life insurance, how will the person make a loan at the bank?

let's imagine that someone has a salary of $500 per month, this person receives his salary in the bank and thanks to that he can borrow in the bank of $5000 and the bank will deduct $130 from his salary per month for 5 years.

if that same person receives his salary in bitcoin then he will not be able to borrow from the bank to pay with salary, unless he has other businesses

[worle1bm]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

It's really good that workers salaries are being proposed to be paid in crypto like btc or any other coin the company will accept but the main thing is those who are willing to accept it should be paid in crypto and others not because there will be some who are more adjusted in having regular fiat as it's widely accepted and they will not have to find a store to accept such payment and moreover the transaction fees would cut their funds if they spent them in small outputs.I personally prefer Bitcoin but there are certain factors which should be noticed before implantation of such decisions.

[romero121]

This is really good. Brazil is the country to have more stores accepting bitcoin in the past. By that time very few countries are into cryptocurrency acceptance. This bill will make a big change in the usage of cryptocurrency among the Brazilian Citizens. For users who have the habit of spending regularly on buying/investing on cryptocurrency can make use of the opportunity.

Already this support is being provided for plantation workers of Indonesia, because they find the usage of cryptocurrency as a better way for money transfer than traditional fiat transfer by centralized platforms.

[savetheFORUM]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

That’s a pretty good idea, I have once worked on a project for a company and they allowed their employees to make a choice on whether they would like to receive their payment on Bitcoin or Fiat. And it’s really cool, I chose Bitcoin then ‘cause it was a remote job and I had to be working from a country that is very far away from the headquarters of the company.

Bitcoin made it easy for me to be able to receive the money instantly, rather than having to make use of banks which would take me so many days before I would get my payment. So, I believe this congressman is making the right choice, and there would be lots of employees/ workers who would be ready to choose cryptocurrency as their mode of payment.

[uneng]

Personally I like the idea of being paid in bitcoins, because I don't need to buy bitcoins to have an investment this way and feel much more incentivized to hold my coins, selling for fiat only what is necessary for daily expenses. But to pass a project like this isn't so easy as it looks, a lot of support from the society, many congressmen and even from the government is need, and I suppose Brazil lacks primary regulations over bitcoin that should be passed before this propose legalizing crypto payments for workers from all spheres, that is a lot more complex and will contradict many personal interests, including the ministry of economy.

[eaLiTy]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

These things are good to hear, it is always great to hear that a government is giving the citizens the options to choose from cryptocurrency and fiat currency and not enforcing one form or the other. The other aspect we need to understand is that even if the payroll is paid in cryptocurrency you cannot expect that it is a move towards bank independence, but it is definitely more freedom of choice.

[dkbit98]

I think that this trend started with few US mayors Francis Suarez of Miami and Eric Adams Adams from New York but it's slowly spreading to everywhere.
Mayors of Jackson TN Scott Conger and Tampa FL Jane Castor also committed to convert their next paychecks into bitcoin, and it's great news that Brazilian politicians are also thinking about this.
If I had the choice I would certainly accept receiving my paychecks at least partially in Bitcoin for obvious benefits, and I would accept all the risk of volatility.

[sheenshane]

Are you guys hoping for the same to happen in your country?

Not yet a proper regulation but our central bank already recognized Bitcoin as an alternative payment and we're using it now as a payment system, we're both good, cheers!

Another country showing interest towards Bitcoin acceptance, what such a great move to them.  Day by day we saw and heard about acceptance of Bitcoin and it could be in the next day, there's another news stating another country accepting Bitcoin and I think most countries might trigger this. 

If people they're in Brazil are oriented very well about Bitcoin, they rather accept Bitcoin than fiat since Bitcoin will give a chance that it will double the value of what you have held.

[Jating]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Yes, I would love to have that option too, to be paid in bitcoin as a salary payment. But it might take a while though, unless it will be really implemented and become law. Because this employers doesn't want another burden for them. I mean they will have to find someone in their payroll department that is at least has knowledge in bitcoin.

Hopefully though maybe in the next 5 years, when bitcoin is somewhat globally adopted, at least 50% of all nation recognised bitcoin as currency or store of value or medium of exchange.

[Fundamentals Of]

Of course it would be best if this is available in any country of the world. Workers should have the freedom to choose which currency should be paid to them. But if this is not available it is not really a problem at all. The workers could easily use their salaries to buy the amount of Bitcoin they want.

What is important is that Bitcoin is legalized as a currency in any country so that people could freely convert their fiat to Bitcoin and use them to purchase goods and pay for services.

[Sayeds56]

I keep wondering how is the situation of retirement pension deductions, life insurance, how will the person make a loan at the bank?

let's imagine that someone has a salary of $500 per month, this person receives his salary in the bank and thanks to that he can borrow in the bank of $5000 and the bank will deduct $130 from his salary per month for 5 years.

if that same person receives his salary in bitcoin then he will not be able to borrow from the bank to pay with salary, unless he has other businesses

You have raised a good point but I think when Bitcoin will be accepted as a legal tender in any country  the Banks of the country will certainly come up by introducing new products in crypto likewise Fixed Deposits, Loans and many many mores to address all above issues raised in your post. However, as crypto Enthusiast I am very glad  that the world is gradually moving toward mass adoption of Bitcoin which has potential to change life of common man/woman.

[Obito]

Given how volatile most crypto is, it's not really the best thing to happen in my opinion, good thing that they made it a choice because if it becomes a mandatory thing, a lot of people will probably suffer when the prices are slashed in half because that's definitely going to happen. It's not a bad proposition but I think that there's probably other ways where they can make crypto a beneficial thing for them besides being an option as a payment for work.

[Poker Player]

Not surprisingly, this congressman is a Republican. Not that it was impossible for him to be a Democrat or a leftist, but there is a tendency to propose Bitcoin-friendly legislation by right-wing politicians, which is consistent with ideology, as leftist ideologies believe more in state control, and Bitcoin escapes it.

Leaving this aside, I hope it will be implemented. Anything that is steps towards normalization of Bitcoin would be good. We are living in an era with respect to Bitcoin and cryptocurrencies that is similar to what happened with cell phones 20 years ago. In 20 years everyone will be using some cryptocurrency just like they use cell phones today.

[Minecache]

Cryptocurrency is increasingly getting into our everyday lives! A congressman in Brazil has recently proposed a bill to allow Brazilian citizens to choose whether to receive their payroll in cryptos or in fiat. If accepted, it will be an important step forward to total Bank independence.

Are you guys hoping for the same to happen in your country?

Very good initiative. In most cases, workers will question about high volatility of cryptocurrency, because they only know that Bitcoin is a digital coin with very high volatility.

This is because of their misconceptions about Bitcoin. They should first and foremost educate the public about cryptocurrency, as well as encourage the use of cryptocurrency. They will be interested in taking crypto payments if they can be educated properly.
Cryptocurrency is allowed in my country but crypto payment is very rare case here.

[yazher]

That would be great if our country have such an option rather than manually converting the part of our salary to some local exchanges that will gonna get some percentage when converting from fiat to cryptocurrencies and not to mention the fees for sending transactions. It would be nice if ever they implement such a thing in Brazil so that the other countries will have some data about the outcome of it before they can try it on their country as well.