While Bill 2.303/15 on the regulation of cryptoassets is still being processed in Brasilia, a new legislative proposal may authorize the payment of public servants’ salaries with digital currencies.
According to Bill 3.908/2021, cryptocurrencies may be recognized as a form of payment for salaries of public servants and private companies.
Presented on November 5, 2021, by federal deputy Luizão Goulart (Republicanos/PR), the proposal is currently being processed in special committees in the House of Representatives.
According to the proposal, employees will be able to choose the method of salary payment in cash or cryptoassets.
“The employee who opts for this method of payment in his remuneration must do so expressly to the employer or public administration”.
On the justification section of the bill, Congressman Luizão Goulart cites Satoshi Nakamoto and the financial crisis that hit the whole world in 2008. The congressman also mentions that payment in digital currencies can solve municipalities and governments’ ‘cash problem’.
“Perhaps the most important thing about this proposition will be that it will collaborate in solving the “cash” problem of the Federal, State, and Municipal Governments. It would give alternatives in the means of payment for the public servant in general, and at the same time move a gigantic Market Economy that is coming”.
In the latest move in the House, Bill 3,908/2021 was submitted to the Labor, Administration and Public Service, and Constitution and Justice and Citizenship committees, which must evaluate the legislative proposal before it goes forward for a vote.