News of Bitcoin legalization in Paraguay earlier this month sent shock waves across the crypto space. But the actual development looks a little different.
Carlos Rejala, 39-year-old Paraguayan Congressman, corrected his statement in an interview with Reuters about his plans to introduce a law to legalize Bitcoin similar to El Salvador.
El Salvador legalized Bitcoin in a historic move last month and is the first and only country in the world to legally accept Bitcoin in exchange for products and services it offers.
President Nayib Bukele urged his ministerial colleagues in the Latin American region to develop their own models of a possible Bitcoin bill that is far removed from centralized state currencies and towards decentralized options like Bitcoin.
Officials from Colombia, Mexico and Paraguay a few weeks ago expressed their own intentions for a bitcoin and cryptocurrency law – aimed at making bitcoin legal tender in their countries.
But Paraguay’s Rejala does not accept this:
“It’s a bill for digital assets and it’s different from El Salvador because they treat it like a legal currency and there won’t be anything like it in Paraguay.”
Rejala suppresses rumors that Paraguay is breaking into the legal Bitcoin space.
This statement is the complete opposite of a tweets Indicated differently earlier this month.
“This is Paraguay. July We legalize Bitcoin! “.
Rejala is the leader of a political party with four seats in the National Assembly. The UK is due to propose a bill to regulate cryptocurrencies on July 14th and has confirmed it is working on three drafts to date.
A law Rejala believes in:
“We want supervisory authorities and banks to get involved so that Paraguayans or foreigners can legally use these assets, because we know that there are illegal transactions here, as in other countries. Paraguay wants to be a crypto-friendly country. “
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According to Cryptoslate
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