AIBC

Bill proposed to pay salaries in Crypto in Argentina – report

Posted:Jul 09, 2021 07:48 Category: Americas , Regulatory , Posted by AIBC Group

José Luis Ramón, an Argentinian Lawmaker and Independent Deputy, explained that access to crypto technology would promote greater autonomy and self-governance

As reported by CoinDesk, the goal of the bill presented by the Congressman is focused on allowing employees and service exporters to receive their full or partial salary in cryptocurrencies on Monday. “Argentines can strengthen their autonomy and preserve the purchasing power of their remuneration,” he explained.

The peso, Argentina’s currency, currently suffers from a 50% inflation rate year on year.

“This initiative arises from the need to promote greater autonomy and governance of the salary, without this implying a loss of rights or exposure to situations of abuse within the framework of the employment relationship.”

Jose Luis Ramon 2This project would also create definitions for what the country would treat as cryptocurrencies and other terms in the crypto market. “This project allows self-employed workers who export services abroad to preserve the purchasing power of their remuneration in the process of their entry into the country,” Ramon continued.

Employees would have the decision on accepting, revoking or modifying this type of collection, and there are also clarifications on what the employer’s obligations would be within the draft seen by CoinDesk. The costs of the transfer of crypto would also have to be covered by the employer.

Ramón clarified that his project allows agreeing a payment in pesos equivalent to the pricing of a cryptocurrency or a direct payment in cryptocurrencies.

Next up: Malta Week

Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of SiGMAAIBCMed-Tech World and AGS, each presenting the top developments of their focal industries.

The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policymakers and thought leaders.

Related Posts

Binance gets first East Asia…

Binance, the largest cryptocurrency exchange, said it will have its first East Asia license after purchasing Japan’s Sakura Exchange Bitcoin…

Crypto winter for BlockFi and…

Despite efforts to overcome challenges in what some are perceiving as a crypto crisis, two more cryptocurrency exchanges BlockFi and…

Crypto not included in SEC’s…

Cryptocurrencies are being left out of Nigeria's Securities and Exchange Commission's (SEC) plan to improve digital asset trading. Further developments…