Recently El Salvador became the first country to adopt Bitcoin as legal tender. Its forward-thinking president called his country’s Bitcoin plan “bulletproof”, with the expectation that the adoption will reduce dependency on the US dollar and its inflation. Other countries are looking at this fearless move to see how it plays out, and some are proceeding with their own plan to adopt Bitcoin.
Paraguay could very likely be the next in line to adopt Bitcoin as an official currency. Congressman Carlos Rejala is currently leading a legislative bid to make Paraguay only the second country in the world to adopt Bitcoin as an official currency.
The draft bill being proposed will seek to make Bitcoin legal tender in the country as well as introduce measures to establish Paraguay as an international hub for crypto investment. Rejala also wrote on his Twitter:
“As I was saying a long time ago, our country needs to advance hand in hand with the new generation… The real one to the moon #btc & #paypal”
Panama is also proposing to go down this road, and congressman Gabriel Silva has said that he wants to follow a similar course of action as his counterpart in Paraguay, saying:
“Panama cannot be left behind if we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies.”
At the same time moves are afoot in other countries in the American continent. Two deputies in Brazil have tweeted pro Bitcoin sentiment, giving themselves laser eyes in their profile pictures into the bargain.
Indira Kempis Martinez, a Senator in Mexico did the same thing on her profile picture, whilst also sharing pro-Bitcoin posts. Francisco Sanchez, a Deputy from Argentina also followed suit.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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