Salaries in Argentina to be paid in cryptocurrency, bill proposed for approval

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José Luis Ramón, Member of the Chamber of Deputies, submitted a proposal that would allow dependent workers and individuals who export services in Argentina to opt to receive all or part of their pay in cryptocurrency.

This provision, in addition to enhancing the autonomy of dependent and self-employed employees, provides them with a contemporary system for preserving their remuneration buying power without requiring its conversion into foreign currency.

Presenté un proyecto de ley para que los trabajadores en relación de dependencia y exportadores de servicios tengan la opción de cobrar su sueldo entero o parcial en criptomonedas. La idea es que puedan fortalecer su autonomía y conservar el poder adquisitivo de su remuneración👇
— José Luis Ramón (@JoseLuisRamonOk) July 6, 2021

Translation: I presented a bill so that workers in a dependency relationship and exporters of services have the option of receiving their full or partial salary in cryptocurrencies. The idea is that they can strengthen their autonomy and conserve the purchasing power of their remuneration

Similarly, this idea permits self-employed employees who export services to other countries to keep their purchasing power while entering the nation.

Workers who supply services overseas should not convert their earnings to Argentine pesos according to the official quotation in the Single Exchange Market, as required by law, because cryptocurrencies are not considered foreign currencies.

As previously reported, the plan stipulates that the employee must clearly tell the company that he/she wishes to receive his/her salary in digital currencies. In addition, the person will be able to decide if you want to charge all or only a part in cryptocurrencies and choose which one.

Bitcoin, stablecoin DAI, and other cryptocurrencies are being utilized by Argentines to defend their economy against overprinting and failed governmental acts. If this bill is passed, the usage of cryptocurrencies on a daily basis might become a reality in Argentina.

Deputy Ramón’s bill on cryptocurrency is not the first to be introduced in the Argentine Chamber of Deputies (HCDN). A Deputy from the Frente de Todos introduced legislation to regulate cryptocurrency. That initiative was forwarded to the HCDN’s Finance committees, General Legislation and Budget and Finance, but it never made it to the main hall of the chamber for a vote.

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