Deputy Luizao Goulart, a member of the Brazilian Legislative Assembly, has proposed a bill to allow crypto payments to be accepted for the public and private sectors.
In Goulart's proposal, employees in Brazil will have the option of requesting remuneration in crypto assets from their employers. The bill, however, stipulates those crypto payments may only be made after both workers and employers have agreed upon it. The translated version of the bill states:
Employees will be free to decide what percentage of their pay (remuneration) in cryptocurrency they receive. Employers will not be able to impose any limits.
In the bill, the evolution of finance is illustrated, from barter systems to fiat currencies to Bitcoin, emphasizing the decentralization aspect, which eliminates the reliance on "a single individual or a central authority."
In the event that Goulart's legislation is signed into law, it will establish a framework for remuneration percentages between workers and employers. He says:
The proposal will most importantly assist in the resolution of the "cash" problem faced by all levels of government by offering payment alternatives, and in turn assist in moving the gigantic market economy to its next phase."
The bill will be passed into law after 90 days from the date of approval, according to Goulart, who requested approval for it citing the need for a global economy that facilitates the daily lives of citizens and provides a good quality of life for all.
Brazilian lawmakers recently approved a bill to punish crypto-related financial crimes.
In addition to increasing the minimum prison terms for similar crimes, the latest regulatory changes increase the penalties for money laundering. According to media sources, the fine was raised from one-third to two-thirds of the amount of money laundered, while the prison term was increased from ten years to sixteen years and eight months.