REGULATION

by Kevin Helms

Argentine Lawmaker Presents Bill Enabling Workers to Receive Salary in Cryptocurrency

A bill has been introduced in Argentina to allow workers to receive their salaries in cryptocurrency. He explained the idea is that workers “can strengthen their autonomy and conserve the purchasing power of their remuneration.”

• Argentina’s national deputy for the Mendoza province, José Luis Ramón, tweeted that he has introduced a bill allowing workers to get paid in bitcoin. He wrote, as translated by Google:

I presented a bill so that independent workers … have the option of receiving their full or partial salary in cryptocurrencies.

• He added: “The idea is that they can strengthen their autonomy and conserve the purchasing power of their remuneration.”
• The Argentine lawmaker said that cryptocurrencies “have been used for a long time, because of the advantages they offer.”
• The deputy noted that “This project was born from our participation in the Knowledge Economy forum some years ago, where we saw the need to solve some problems.”

• Following El Salvador making bitcoin legal tender, Argentina deputy Francisco Sánchez temporarily put laser eyes on his profile picture, tweeting, “I can’t believe it, but this is how it is.”
• Cryptocurrency adoption has been growing in Argentina. In May, a report found that Argentines were increasingly interested in bitcoin, ether, and stablecoins. Ripio Director Juan José Méndez commented at the time that “The pandemic accelerated the adoption of crypto platforms. Today we have 1 million users in Argentina when at the beginning of 2020 we had 400 thousand, and it is a figure that grows month by month.”
• A survey conducted in Argentina last year showed that 73.4% of participants considered that in the current economic scenario, cryptocurrencies are the most effective way to save and protect their funds.
• The full bill can be found here.