Brazil on its way to El Salvador, Bitcoin may be legal

Governments and local administrations around the world are starting to see bitcoin in a positive way. Now a big and important initiative has been taken in Brazil regarding this. A Brazilian congressman, Luizao Goulart, has proposed a bill to legalize cryptocurrency as a form of payment for workers in the public and private sectors. If the bill is approved, Brazil could become the second country after El Salvador to accept bitcoin as a legal tender.

According to a report in CoinTelegraph, this draft bill by a Brazilian congressman was introduced in the country’s deputy chamber. It targets the new law and gives all Brazilian workers the option to ask their employers about payment in cryptocurrency. It is clear in this bill that payment in crypto can be guaranteed only after mutual consent between the worker and the employer. That is, it is clear that the employer will not be able to pressure his workers to take payment in crypto.

Goulart has said that such a move is “part of the fourth digital revolution. It is not clear at this time whether the proposal will be accepted. However, a September nation-wide poll study shows that 48 of Brazil’s Percentage citizens are in support of making bitcoin a legal tender. The same report also noted that Brazil has more than 1.4 million bitcoin and cryptocurrency users, as well as 21 bitcoin ATMs.

Goulart believes that improving people’s quality of life is essential to building a global economy. His proposed bill can be passed into law after 90 days from the date of its approval.

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