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June 28, 2022
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Argentina’s bill will allow wages to be received in Bitcoin- Webitcoin

The “Pay me in Bitcoin” movement got much stronger today, when José Luis Ramón, a member of Argentina’s National Congress, announced that he had introduced a bill that would allow dependent workers and service exporters the option to receive their full or partial salary in Bitcoin (BTC).

I presented a bill so that dependent workers and service exporters have the option of receiving their full or partial salary in cryptocurrencies. The idea is that they can strengthen their autonomy and maintain the purchasing power of their remuneration

The impactful message of this ad is what he said in the last sentence: “The idea is that they can strengthen their autonomy and conserve the purchasing power of their remuneration”. Argentine citizens have been dealing with absurd amounts of hyperinflation from the Argentine peso, which makes them unable to save their wealth. Looking at the core of the Argentine peso’s inflation rate, they desperately need Bitcoin.

source: tradingeconomics.com

Ramón goes on to say:

This initiative stems from the need to promote greater autonomy and governance of wages, without this implying loss of rights or exposure to situations of abuse within the scope of the employment relationship.

Argentina appears to be following in the footsteps of El Salvador, which recently gave currency to Bitcoin. And that plays to the recent theme of congressmen in South American countries pushing for Bitcoin adoption.

Central Banks and the fiduciary system actually hurt these countries through hyperinflation and excluded most of their citizens from having a good financial infrastructure. The hard capital supply of 21 million Bitcoin saves them from suffering further evaporation of wealth and allows them to be their own bank.

According to Accountant , only 48.7% of the Argentine population has a bank account. Even so, 78% have Internet access. More and more people in Argentina will be able to receive payments, store their goods and spend their money on Bitcoin, thus improving their quality of life.

Source: BitcoinMagazine

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