The Arena party boss, René Portillo Cuadra, urged the deputies of the ruling party that it is necessary to establish in the law of the Bitcoin that the salaries and benefits of Salvadorans must be paid only in US dollars. Proposing that the use of cryptocurrencies to pay salaries in The Savior.
Nevertheless, During the plenary session held in the country this Tuesday afternoon, it was rejected by the majority of the deputies. The modification of the agenda only had 16 votes: 3 from the FMLN, 1 from Nuestro Tiempo, 1 from Vamos and 11 from Arena.
Portillo, asked that it be considered to approve a “Special Decree for Remuneration in all Labor Relations with a Public or Private Institution” what does it say: “All remuneration for work service in a private or public employment relationship must be made in United States dollars. It is prohibited to make payments of wages or any labor compensation in cryptocurrencies”.
The decree would have a special character and will prevail over any other provision that contravenes it, including over the articles contained in the Bitcoin Law. However, this proposal was denied.
The deputies of @BancadaCyan, along with their allied parties, denied the votes to approve a bill that orders the payment of salaries only in dollars and not in cryptocurrencies. pic.twitter.com/93bBOhv9Dm
– Diario Co Latino (@DiarioCoLatino) September 28, 2021
In fact, Athena, a company that arrived in El Salvador after the approval of the Bitcoin Law, announced that it has created an application that will allow the payment of salaries in bitcoin.
“With Vanguard 1, employers can now offer employees the opportunity to choose how they want to be paid. Employees will have the opportunity to choose a percentage or dollar amount of their wages to receive in Bitcoin.” published the company on their site web.
“Employee participation in this payment system is completely optional and if they decide they will receive their payment in bitcoin through their Chivo Wallet”, add the information posted on the portal. As reported, the application will be available to large and small companies.
The employee would have the opportunity to choose what percentage of his salary or specific amount of money in dollars would be exchanged to BTC with each payment he receives for his work. «Employee participation in this payment system is completely optional », reiterates the company.
Enabled law
Currently the Labor Code indicates that wages must be paid in the “legal tender” from the country. Let’s remember that, since September 7, bitcoin is also legal tender.
But both Bukele, as well as the Minister of Economy, Alejandro Zelaya, have said repeatedly that the Bitcoin Law does not include the payment of obligations to workers using the cryptocurrency.
However, President Bukele’s statement is regarded as “false”Precisely because of what the labor code establishes in its article 120, which establishes:”The salary must be paid in legal tender “. And the legal tender currencies in the country are the colon —although it is not in use—, the dollar and the bitcoin, thanks to the Bitcoin Law.
However, the president of El Salvador defended that its bet on bitcoin had only become one more legal tender and that the law that the norm guarantees for the population the free adoption of it.
Keep reading: