The new legislation aims to legalize voluntary cryptography wages while capping Bitcoin payments at 50% of the profits of an employee.
A Brazilian legislator presented a bill to regulate wage payments in cryptocurrencies such as bitcoin. The federal deputy Luiz Philippe de Orleans E Bragança filed the proposal on March 12, seeking to legalize the voluntary payments of cryptographic wages while guaranteeing at least 50% of the wages of the national currency, the Brazilian real.
The bill prohibits complete salary payments in virtual assets, with the exception of expatriate or foreign employees under the regulations of the Central Bank of Brazil. Independent service providers can receive complete compensation in cryptocurrency, provided that specific contractual conditions are met. Employers must use an authorized exchange rate for the conversion of cryptography, aligning with official financial regulations.
Orleans-Bragança, a descendant of the former royal family of Brazil, argues that the bill would strengthen the financial technology sector and attract cryptographic investments. He also stressed that the measure promotes contractual freedom between employers and employees without undermining the fundamental protections of work. The proposal follows global examples of countries like Japan, Switzerland and Portugal, where regulated cryptography payments have encouraged adoption and flexibility in financial transactions.
For more information on these subjects, visit diplomacy.edu.
