Brazil Proposes Bill to Allow Bitcoin Salary Payments – Key Details & Implications
Introduced by Federal Deputy Luiz Philippe de Orleans e Bragança on March 12, 2025, bill PL 957/2025 seeks to provide a legal framework for such payments while ensuring financial stability and worker protection.
Key Provisions of the Proposed Legislation
- Voluntary Participation: Both employers and employees must mutually agree to any cryptocurrency-based salary arrangements, ensuring that participation is entirely voluntary.
- Payment Structure: The bill mandates that at least 50% of an employee’s salary be paid in the national currency, the Brazilian real, with the remaining portion eligible for payment in cryptocurrencies. This structure aims to maintain financial stability and protect workers from the inherent volatility of digital assets.
- Exceptions for Specific Worker Categories: The legislation allows certain exceptions where full payment in cryptocurrencies is permissible:
- Independent Contractors: Freelancers and self-employed individuals can receive 100% of their payments in digital assets, provided this is explicitly stated in their contracts.
- Foreign Workers and Expatriates: Employees from abroad working in Brazil may also opt for full cryptocurrency payments, offering flexibility in international employment arrangements.
- Official Exchange Rate Usage: To ensure transparency and consistency, the conversion from Brazilian real to cryptocurrency must utilize exchange rates established by institutions authorized by the Central Bank of Brazil. This measure seeks to prevent discrepancies and protect both employers and employees from potential exchange rate manipulations.
Potential Implications
- Economic Growth: By embracing cryptocurrency payments, Brazil positions itself as a forward-thinking nation in the fintech space, potentially attracting investments and fostering economic growth.
- Increased Cryptocurrency Adoption: Legitimizing salary payments in digital assets could lead to broader acceptance and use of cryptocurrencies in everyday transactions, further integrating them into the mainstream economy.
- Regulatory Framework Development: Establishing clear guidelines for cryptocurrency transactions may encourage other sectors to explore digital asset integration, leading to a more robust and comprehensive regulatory environment.
Conclusion
Brazil’s proposed bill represents a significant step toward modernizing its financial system by incorporating cryptocurrencies into salary payments. By balancing innovation with protective measures, the legislation aims to harness the benefits of digital assets while safeguarding the interests of workers and the broader economy. As the bill progresses through the legislative process, its outcomes could serve as a model for other nations considering similar integrations of cryptocurrencies into their financial ecosystems.
Editorial Team
Reporter at Coindoo
