Bill Passed in Argentina through Which Salaries Will Be Paid In Crypto

Argentinian Parliament has approved the latest Bill which provides for payment of salaried persons through cryptocurrencies. The Bill seeks to strengthen salaried individuals in conserving their buying power against their salaries.

In contrast with the US, countries of the Latin American region are becoming more reliant upon cryptocurrencies. Since when the country of El Salvador has legalized Bitcoin, more countries in the region are keen on Bitcoin.

Argentina, which is also a country from the Latin American region, too has grown interested in cryptocurrencies. The lawmakers of Argentina have recently passed a Bill regarding cryptocurrencies. Through this Bill, the lawmakers have suggested that salaried individuals can opt to receive their salaries into crypto.

Jose Luis Ramon, Mendoza’s National Deputy, has announced on Twitter that a new Bill has been sanctioned. He said that the Bill was moved into the Parliament by himself in the great interest of the country’s working class. As regards the Bill, Ramon said that those individuals who want to receive salaries in crypto can do so. Even if they want to receive full or any specific amount of their salaries in crypto, then they will be paid salaries through the lead coin, Bitcoin.

Ramon further said that he believes that empowering the working class with the power of crypto would be immensely beneficial. Firstly, the salaried individuals would be able to reinforce their autonomy. Secondly, with the help of crypto, they will be further able to enhance their buying power against their salaries.

Another Senator from the Argentinian Parliament suggested that cryptocurrencies have been used globally for a very long time. There is no doubt that there are huge advantages and benefits for their users.

In the meanwhile, various other Argentinian Government officials have been insisting upon their government to replicate El Salvador.

According to a recent survey conducted in Argentina, it was found out that the adoption of digital currencies is growing rapidly in Argentina. The most popular digital currencies in Argentina, for the time being, are Bitcoin, Ehtereum, and Dogecoin. According to some officials, it was the pandemic that helped growing Argentinians interest in digital assets. Since the coming of the pandemic, there have been a number of crypto derivatives being established in the country. In 2020, there were only a handful of Argentinians who were involved in crypto-related activities. However, as of today, there are more than one million active crypto users in the country. In less than a year, there was an increase of about 650,000 Argentinian crypto users.

As per another survey, which too was conducted last year, the survey showed that about 73.4% of respondents were fond of crypto. They believe that while their country’s national economy is facing an economic crunch, survival can be sought through crypto adoption.

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