After El Salvador, Paraguay is preparing laws to make bitcoin a legal tender
The South American country, Paraguay is on track to make Bitcoin a legal tender following the announcement of the proposal of a bill to support the move.
Following El Salvador’s landmark vote to adopt Bitcoin as an official currency earlier this month, another domino in Latin America looks set to fall. Lawmaker Carlos Rejala is now leading a bid to implement legislation to make Paraguay the second country to do so.
“The bill, if passed will position Paraguay as the second country to embrace Bitcoin as legal tender after El Salvador.” Carlitos said the bill will help position the country to trail the path of growth for the next generation.
Como ya lo decía hace un buen tiempo, nuestro país necesita avanzar de la mano de la nueva generación.
Llegó el momento, nuestro momento.
Esta semana empezamos con un proyecto importante para innovar a Paraguay frente al mundo!
— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 7, 2021
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— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 17, 2021
As well as introducing measures to make Paraguay a hub for foreign crypto investors, the draft legislation – which, according to Rejala, will be published on July 14 – would also seek to establish Bitcoin as legal tender.