Paraguay’s Bitcoin law to be released on July 14th

Paraguay’s Deputy Minister Carlos Antonio Rejala Helman tweeted that Paraguay’s Bitcoin bill will come out on July 14th. The tweet also says that this will bring big surprises not only in Paraguay but around the world as well.

In addition, the tweet confirms that Paraguayan Senator Fernando Silva Facetti, along with the Deputy Minister, will propose the Bitcoin law on July 14th.

Paraguay’s Bitcoin law is set to be released on July 14th

Since El Salvador’s announcement that it would make Bitcoin legal tender at the 2021 Bitcoin Conference in Miami, other countries have indicated they will do the same.

Several other Latin American countries such as Panama and Paraguay followed shortly afterwards. As a result, Paraguay has been working non-stop researching and developing bitcoin legislation for the past month.

Just a month ago, the deputy minister hinted at the possibility of making Bitcoin legal tender in the country. In particular, Helman tweeted about the “big project”. This tweet says that Bitcoin and PayPal will be involved in the project.

In addition, the deputy minister was inspired by the President of El Salvador, Nayib Bukele. Helman believes the adoption of cryptocurrency will bring Paraguay to the forefront of the global arena.

True to his tweet from a month ago, Helman only followed up with another tweet three weeks ago. Here he confirms that their Bitcoin proposal in July will meet the law.

Now is the time for the Bitcoin law to hit the Paraguayan Congress. If this law is passed, Bitcoin will likely become legal tender in Paraguay. This would make the country the second in the world to recognize Bitcoin as legal tender.

Carlos Rejala from Pragay also said earlier: “We want regulators and banks to intervene so that Paraguayans or foreigners can operate legally with these assets, because I know that there are illegal transactions here and in other countries. We want to be a crypto-friendly country. “

In addition, the deputy minister has hinted at other possible news that could accompany the bitcoin trend. While there is no certainty that Bitcoin will be legal tender in this country as there has been much speculation that Paraguay just wants to regulate the bill to make Bitcoin friendly, but the monetary community. Electronics eagerly await real news from the Paraguayan government on coming weekend.

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