There is no mention of Bitcoin in the Paraguayan Congressman’s leaked crypto law

Details of a bill by a Paraguayan private member, the author of which promises to bring Bitcoin (BTC) and cryptocurrencies to the national economy, were reportedly leaked to the media hours before they were released.

And according to the information, the leaked cryptocurrency law by Paraguayan Congressman Rejala does not mention bitcoin.

The Paraguayan MP’s leaked crypto law makes no mention of bitcoin

The bill is the brainchild of Panamanian Congressman Carlos “Carlitos” Rejala from the opposition Hagamos party, who has not yet commented on the leak.

Rejala first announced that he would draft the law after El Salvador President Nayib Bukele revealed details about the country’s move to make BTC legal tender alongside the US dollar.

Rejala re-introduced the new bill earlier this month after winning the support of Fernando Silva Facetti, a longtime senator who serves the authentic Radical Liberal Party.

However, the allegedly leaked document Decrypt received appears to have been co-authored by someone named Fernando Arriola, likely the director of crypto mining company BC Mining. It also claims to have the backing of a collective of blockchain companies in the country called the Paraguay Fintech Chamber.

And instead of trying to accept BTC as legal tender, as was the case in El Salvador, the legal text mainly deals with cryptocurrency mining, how to bring it under the legal auspices of Paraguay through a license-based system – and how it’s about tax mines.

The bill also contains many provisions on how money laundering in connection with cryptocurrencies should be avoided, how cryptocurrency exchanges should be regulated in order to ensure “customer protection”. A proposed provision makes the “commercial sale” of cryptocurrencies legal and “free”. The bill does not directly mention BTC or other tokens.

Rejala’s original post on the subject explicitly mentioned Bitcoin, as did another post on last weekend’s bill.

There are no details yet, however, if the bill is passed, it must first pass the committee stage in the House of Commons, then pass a vote in the House (where Hagamos only has two seats) before reaching the Senate.

Rejala had previously promised “a big surprise for Paraguay and the world” and added that “something big is coming”.

Not so long ago, however, it was Carlos Rejala of Paraguay who announced that Paraguay would not legally bid for Bitcoin like El Salvador, but only pushed a bill to regulate the cryptocurrency to make it more user-friendly.

“This is a digital asset bill that is different from El Salvador because it is treated as legal currency and that would not be possible in Paraguay,” he said.

He also added:

“We want regulators and banks to interfere so that Paraguayans or foreigners can operate legally with these assets, because we know that there are illegal transactions here and in other countries. We want to be a crypto-friendly country. “

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