Argentinian Congressman Josê Luis Ramôn has proposed a bill that would authorize bitcoin payments for the country’s workers.

According to Congressman Ramôn, this initiative would provide much-needed protection for Argentinians against the crippling effects of hyperinflation.

If his bill can pass through the strict legislation process, it would be a breakthrough law for the country as it would put Argentina as one of the major supporters of bitcoin.

More power to the people

The bill would provide employees and people who export services abroad an opportunity to receive bitcoin salaries, whether full or partial. The congressman said that with this bill, the autonomy and purchasing power of the people could significantly improve.

Aside from the good intentions of the bill, its proposal actually came at a perfect time when Argentinians are rapidly adopting cryptocurrency.

The rapid popularity of bitcoin in Argentina stems from the country’s ongoing economic crisis, and citizens are turning to bitcoin to protect themselves from its effects.

El Salvador’s major problems

While Argentina is planning for a bitcoin-centric law, its fellow Latin American nation, El Salvador, is facing major headaches on its bitcoin Law.

With the law’s upcoming enforcement in September this year, El Salvador would have to face a lot of pressing problems on its gigantic decision to make bitcoin its legal tender.

First, both World Bank and International Monetary Fund have refused to help the country in its bitcoin transition. Second, the entity that would regulate bitcoin transactions in El Salvador is still unclear.

The country’s Department of Labor and Social Welfare has refused to handle the enormous task and immediately passed the responsibility to the Ministries of Finance and Economy.

Image courtesy of Cointelegraph News/YouTube

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://bitcoinerx.com/blockchain/argentina-congressman-wants-crypto-salaries-for-workers/