Argentine Government Propose Salary Payments in Crypto

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An Argentine lawmaker has just proposed a bill that would allow employees receive their salaries in Bitcoin and other cryptocurrencies.

Jose Luis Ramon, Argentina’s national deputy for the Mendoza province, introduced a bill yesterday proposing allowing workers and service exporters to be paid in cryptocurrency in full or in part.

Ramon believes that the approach will allow Argentines to “preserve the purchasing power of their remuneration” while also strengthening their financial independence.

Employees have the option of receiving full or partial payment in digital assets. Employees can also choose the form of cryptocurrency they want to receive their salary in.

Due to economic turbulence, Argentina has joined the ranks of other Latin American countries that have seen a rise in bitcoin use. The COVID-19 pandemic in 2020 had a significant impact on the country’s economy.

This move comes after El Salvador has stated that the government is discussing whether Bitcoin should be used to pay employee wages in the country shortly after adopting the leading cryptocurrency as legal tender.

 

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