Argentina next to look at bitcoin?

Team Luno
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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.

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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