Belgian MP: “Experiment with getting paid in BTC was successful”

Belgian MP Christophe de Boekelaer, who was paid in BTC for a year, called his experiment a success, as it raised the awareness of local lawmakers about crypto assets. At the end of January 2022, Christophe De Beukelaer, representing the Humanist Democratic Center (CDH) party, became the first European politician who agreed to receive wages in bitcoins.. He cited the example of American mayors working to make their states centers of cryptocurrency development.. One of them is Miami Mayor Francis Suarez. A year later, Boekelaer spoke in more detail about his experience of receiving a salary in bitcoin.. The monthly salary of a member of the Brussels Parliament, which is about 5,500 euros ($6,140), was converted into bitcoins using the Bit4You cryptocurrency platform. Boekelaer said he agreed to this in order to protect financial freedom, expand economic opportunities, fight financial illiteracy and introduce a new model for the development of finance. “What does a central bank do when it prints money? It creates the illusion of infinite resources and encourages economic actors to produce and consume more.. The use of bitcoin is essential to protect the environment,” Bøkelaer said. Considering that in January 2022, the bitcoin exchange rate reached about $38,000, and now it is at the level of about $17,000, many may consider this experiment unprofitable, the politician noted.. However, he added that from the very beginning he did not regard his experiment as an economic strategy. “It was a political, not a financial gesture. Every month I transfer my salary in bitcoins to a cold wallet and do not touch it. I'm not going to spend cryptocurrency. Europe is in for hard times due to the energy and climate crisis, so Western countries will gradually begin to realize the usefulness of cryptocurrencies, ”said a member of the Belgian parliament. Note that in November, the Financial Services and Markets Authority (FSMA) of Belgium clarified its attitude towards crypto assets.. The agency stated that decentralized cryptocurrencies should not be considered securities.