As the institutional adoption of cryptocurrencies continues to gain momentum, Luizão Goulart, a member of Brazil’s Chamber of Deputies, has proposed a bill to make crypto payment options available for both public and private sector workers in the country.

Brazilian workers could have the choice to pay part or all of the salary they receive in crypto currency if the bill passes. Goulart proposed that the new system should be gradually integrated.

The voluntary nature of Goulart’s proposal is quite different from the approach employed by El Salvador. Salvadoran president Nayib Bukele’s policies mandated all businesses to adopt as a payment option, even though he repeatedly said that using Bitcoin is optional.

The bill also states that employers and workers must reach an agreement before crypto payments can be made. However, employees are free to choose the amount of their pay they would like in cryptocurrency.

The limits of the percentage of payment (remuneration) in cryptocurrencies will be of the worker’s free choice. The employer cannot force workers to accept cryptocurrencies as a payment.

Goulart further explained that integration is necessary for what he referred to as “the fourth digital revolution.” He highlighted the evolution of finance from a barter system to fiat currencies to digital assets, asserting that Bitcoin is the “antithesis of the current global financial system.”

While emphasizing the importance of his proposal, Goulart said that “it is only up to us to adapt, reinvent and progress along this wonderful path of Modernity in order to establish a Global Economy that facilitates the daily lives of citizens and, above all, provides a good quality of life for all.”

If the bill is signed into law it will address the cash crisis of federal, state and municipal governments. The bill will take effect in 90 days.

Another interesting fact is that 48% of respondents to a Brazilian survey indicated their support for Bitcoin becoming the official currency.

Since a few weeks, there has been much speculation about the regulation of Bitcoins in Brazil. The Chamber of Deputies’ Special Committee recently approved Bitcoin regulation, causing many to believe that the country would emulate El Salvador and make Bitcoin legal tender.

The bill doesn’t intend to legalize Bitcoin within Brazil. The Brazilian “virtual asset” bill aims to define virtual assets and virtual asset services providers and also increase investor protection by increasing regulatory policies.

Brazil’s Central Bank has stated, among other things that they are more interested in creating its CBDC than legalizing Bitcoin in Brazil.

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