Paraguayan government plans new legislation | Author: Titus | Capital | June 2021

For crypto enthusiasts, the good news for Bitcoin is here again! Bitcoin still seems to be proving its value in Latin America.After Paraguay Announce A big Bitcoin project Last week, a congressman was making it more formal.

As early as July, the country hoped to issue new legislation related to cryptocurrencies. It is not clear what exactly has changed in Latin American countries in terms of cryptocurrencies. MP Carlos Antonio Rejala Helman has stated in advance that the Bitcoin project should be developed in cooperation with PayPal.However, there has never been any information about this Paypal.

Rumors of legalization as legal tender as in El Salvador are growing here.According to Grupo Cinco, the largest entertainment company in Paraguay, after announcing that it will accept Bitcoin as a means of payment, Rejala cheered the cryptocurrency community with the following tweet.

More and more Latin American countries seem to see huge opportunities CryptocurrencyRecently, Panama has also issued a positive statement about Bitcoin.Panamanian Congressman Gabriel Silva once said that people should not be left behind in the same country area.

In this statement, Silva refers to El Salvador.The Central American country is the first country in the world to recognize Bitcoin as an official currency. When the crypto world celebrates this move, World Bank and International Monetary Fund (IMF) Have a tomb attention.

Nevertheless, El Salvador is considered a pioneer in this regard.Just a few days after El Salvador’s President Naib Bukler announced the legalization of Bitcoin, Paraguay issued a statement on the legalization of cryptocurrency for the first time tender.

After all, Booker did not hesitate for long. A bill was submitted to Congress within five days.After Congress approves the draft, the country now hopes to create the infrastructure in less than three months to establish Bitcoin as a means To pay.

The question now is whether Bitcoin is also recognized as an official payment method in Paraguay. In this case, the current official currency, Paraguayan Guarani, will not be replaced by Bitcoin. Therefore, the two currencies will exist side by side.

Since the U.S. dollar is the legal tender of El Salvador, Bitcoin It should have only a limited impact on the ParaguayHowever, the greater impact on Guarani is expected.

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