Argentina next to look at bitcoin?

Is Argentina set to join the slew of Central and South American countries looking to legislate for bitcoin?

Argentine congressman José Luis Ramón last week presented a bill to allow employees and service exporters to receive their full or partial salary in crypto currencies.

According to Ramón, the move is a hedge against inflation, which currently sees Argentina’s peso currency suffering from 50% year-on-year inflation.

“Argentines can strengthen their autonomy and preserve the purchasing power of their remuneration,” Ramón explained. He further added that, “This project allows self-employed workers who export services abroad to preserve the purchasing power of their remuneration in the process of their entry into the country.”

The bill also aims to give more power to employees, affording them the “absolute” decision on accepting, rejecting, or modifying the way they collect their salaries. Furthermore, it also clarifies what the employer’s obligations are in the payment process, saying they will have to bear the costs of the transfer of the cryptocurrencies.

Did you find this useful?