A member of the lower house of the National Congress of Argentina presented a bill that will allow workers in the export of goods and services to receive full or partial salaries in cryptocurrencies.
Member of the Argentine Chamber of Deputies, José Luis Ramón, said his proposed bill would apply to anyone who provides services or works for hire. If this proposal is accepted, residents of the country will be able to choose how they want to receive wages – entirely in Argentine pesos or in cryptocurrencies, or a combination of both.
“The idea is that Argentine citizens can become more independent in managing wages. If workers can receive money in whole or in part in cryptocurrencies, they will increase their purchasing power. At the same time, the rights of workers must be respected, and the management of organizations must not abuse labor relations, “Ramon wrote on Twitter.
Residents of Argentina who provide services to foreigners do not have to convert the received cryptoassets into Argentine pesos, as is usually done with other foreign currencies. According to a law passed in December 2019, the country introduced a tax of 30% on the purchase of foreign currency. However, this law does not apply to bitcoin and other digital assets.
Ramon’s cryptocurrency bill is due to be passed by the Argentine Chamber of Deputies and the Senate before being sent to President Alberto Fernández for approval.
Legislators in many countries in Central and South America are proposing to clarify the regulation of the cryptocurrency industry, and some governments are ready for the full-scale introduction of cryptocurrencies. Bitcoin became legal tender in El Salvador in June. After that, the Panamanian parliamentarian also began working on a bill to legalize cryptocurrencies and provide tax incentives to firms working with cryptoassets.
