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[Brazilian Congressman Introduces Bill To Allow Payment Of Salaries In Bitcoin] March 17. According To The Crypto Basic, On March 14, Former Federal Deputy Of São Paulo Luiz Phillipe Submitted A Bill To The Brazilian Congress Proposing To Legalize Bitcoin And Cryptocurrency As A Form Of Salary And Payment. The Bill Suggests That Workers Should Be Able To Receive Up To 50% Of Their Wages And Labor Benefits In The Form Of Digital Assets. The Bill Does Not Mandate Bitcoin Acceptance But Rather Provides A Legal Framework For Residents Interested In Engaging With This Emerging Technology. It Stipulates That 50% Of The Salary Will Continue To Be Paid In Brazilian Real To Maintain The Practicality Of The National Currency, With Freelancers, Foreigners, Or Self-Employed Individuals Not Subject To This Restriction. Former Deputy Phillipe Stated That This Bill Would Further Position Brazil As A Global Hub For Digital Assets, Attracting Foreign Tech Investment And Granting Employees Autonomy In Receiving Labor Compensation. The Proposal Requires Approval From The Entire House Of Representatives And A Majority Vote To Be Passed To The Federal Senate For A Final Decision
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