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Brazilian lawmaker introduces bill to regulate Bitcoin salaries

Coin Telegraph LogoCoin Telegraph1d ago

Brazilian lawmaker introduces bill to regulate Bitcoin salaries - Coin Telegraph

Quick Summary:

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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Article Details

Author / Journalist: Cointelegraph by Helen Partz

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 10:23:24 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 520 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27122009

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About Coin Telegraph

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Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 422 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #11

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