Brazil is considering a project to pay government salaries in cryptocurrencies.

Brazil is considering a project to pay government salaries in cryptocurrencies.
In Brazil, a politician has come up with the idea of changing the law so that government employees are paid in Bitcoin.

Increasingly, we are seeing on social media that cryptocurrency payouts are becoming much more popular.

First we heard about the Mayor of Miami, the Mayor of NYC, then Tampa. And on November 7, the National Chamber of Deputies in Brazil was presented with a bill to allow payroll in Bitcoin.

If this move, this idea were to come into effect, it would be the largest national cryptocurrency adoption movement since El Salvador adopted payments in crypto.

The bill will appear at the ongoing debate in Brazil regulating Bitcoin. There is talk that clerical staff, will be paid partly in crypto.

Quote from one official:

“This law states that part of an employee’s salary can optionally be made through cryptocurrencies.”

Unlike El Salvador, Brazil will not mandate accepting payments and receiving pay in Bitcoin.

One MP explained that adoption is needed. He also explained the importance of money in today’s world, which allows humanity to escape from a “primitive barter society”. Goulart reasoned that BTC is “the antithesis of the current global financial system” because it is not based on trust in institutions.

To this the MP said:

“It is only up to us to adapt, reinvent and progress on this wonderful path of modernity in order to establish a global economy that facilitates the daily lives of citizens and, above all, provides a good quality of life for all.”

A poll from September shows that as many as 48% of Brazilians support making Bitcoin their official cryptocurrency.

08-11-2021, Mr.Advice TEAM

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