Bitcoin may only account for 50% of a salary payoutIn the proposed legislation, Orleans-Braganza asked lawmakers to prohibit employees from paying full salaries in crypto, capping such payments at 50%.“The payment of salaries exclusively in virtual assets is prohibited,” except for cases involving expatriate employees or foreign workers, under the terms of regulations by the Central Bank of Brazil.
Related: Brazil fintech unicorn Meliuz adopts Bitcoin treasury strategyThe proposal aims to follow successful crypto payment implementation in many global jurisdictions, including Switzerland, Japan and Portugal, Orleans-Braganza mentioned, adding:“In Japan, for example, legislation requires individual agreement between employer and employee, as well as specific guidelines for the conversion of the amounts paid.
In Portugal, regulation brought flexibility and drove the adoption of virtual assets in the financial sector.”While some global jurisdictions allow Bitcoin use in payments, many countries — like Turkey and Russia — prohibit citizens from using any cryptocurrency as a means of payment.
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