Paraguayan lawmakers introduce Bitcoin law on July 14th

Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti plan to propose the Bitcoin (BTC) law to the National Assembly on Wednesday July 14th, highlighting the urgency of lawmakers in building a consistent digital asset strategy for their country.

“I am here to unite Paraguay,” Rejala tweeted On Friday he added that he and his co-legislator are planning a “big surprise for Paraguay and the world”.

I’m here to reunite Paraguay, that’s why we made a decision with the senator @FSilvaFacetti Submit the invoice together #bitcoin on Wednesday July 14th!
Stay tuned because there is going to be a big surprise for Paraguay and the world. Something HUGE is coming #Bitcoin #btc

– Carlitos Rejala (@carlitosrejala) July 9, 2021

Although Rejala did not specify what the bill would include, some lawmakers in the country want to follow El Salvador’s lead and introduce Bitcoin as legal tender. June 6th, Rejala Get the news his more than 50,000 Twitter followers that the digital asset will be linked to “an important project to innovate Paraguay in front of the world”.

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 with an important project for innovations in Paraguay frente al mundo!

El Verdadero to the moon #btc & #paypal pic.twitter.com/ZMRJgAIxgO

– Carlitos Rejala (@carlitosrejala) June 7, 2021

Building on Rejala’s earlier statements, the upcoming bill would introduce measures to make Paraguay a premier hub for overseas crypto investors, corporations, and possibly miners. This will likely include provisions for accepting BTC as legal tender.

Like other Latin American lawmakers, Rejala added a laser eye to his profile picture on Twitter, a symbolic way of showing his optimistic outlook on BTC.

Connected: What is really behind El Salvador’s “Bitcoin Law”? Experts answer gia

Latin America has become a potential hotspot for cryptocurrency adoption due to local economic and financial pressures, particularly in countries like Argentina, Venezuela, and Mexico. As Cointelegraph reported, there are now at least two crypto unicorns in Latin America, a term used in the venture capital industry to describe startups valued at $ 1 billion or more.

2TM Group, the parent company of the Brazilian cryptocurrency exchange Mercado Bitcoin, recently closed a $ 200 million financing round with SoftBank, bringing the total valuation to around $ 2.1 billion. Meanwhile, the Mexican crypto exchange Bitso is valued at $ 2.1 billion after completing a Series C financing round.