Lawmaker Introduces a Bill to Pay Argentine Workers in Crypto

Lawmaker Introduces a Bill to Pay Argentine Workers in Crypto

Argentines whose major business is exportation will be glad if the bill is passed into law.

Someone from the lower house of the Argentine National Congress has spoken in support of making cryptocurrency a means of salary payment to some groups of people.

Jose Luis Ramon said the bill he is promoting is targeted at those that serve people outside the country. If the bill is passed, it means that the workers may get all of their monthly earnings in crypto or just some part of it depending on what each individual wants.

The reason why the bill was raised is that there is a concern to give such workers as much freedom as possible outside their home country.

The news agency, La Nueva Manana said that with this development, it will be easy for exporters to spend their crypto just like that without changing it first to Argentine pesos. There will be no tax deduction on crypto unlike what was obtainable for foreign currencies which attracted 30% tax fee.

The bill can only be approved by the President, Alberto Fernandez. However, for the bill to get to him, it must be deemed necessary by the lawmakers. Ramon and nine others make up those that represent the Mendoza province. He is also the head at the Federal Unity for Development alliance. While the senate house consists only of 72 people, those at the legislative house have 257 members.

In the same vein, some lawmakers in countries located in South and Central America and trying to see if crypto can be used in the country. In June, the president of El Salvado gave his consent to the use of Bitcoin as money but it is yet to be written in the country’s law. In Panama and Brazil, the lawmakers there are fighting to make crypto usable in the public.



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