After declaring its aims of adopting Bitcoin as a legal tender, Paraguayan lawmakers have proposed to present the bill to Congress on July 14.
On Wednesday, July 14, Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti propose to introduce a Bitcoin (BTC) bill in Congress, highlighting the politicians’ urgency in developing a comprehensive digital asset policy for their country.
Rejala tweeted Friday, “I am here to unite Paraguay,” adding that he and his colleague are organizing a “big surprise for Paraguay and the world.”
I am here to unite Paraguay, that is why we decided with Senator @FSilvaFacetti to present together the bill #bitcoin on Wednesday, July 14!
Stay tuned since there will be a mega surprise for Paraguay and the world. Something GIANT is coming #Bitcoin #btc— Carlitos Rejala (@carlitosrejala) July 9, 2021
Despite the fact that Rejala did not clarify what the measure would comprise, some legislators in the country want to follow El Salvador’s lead and declare Bitcoin legal tender.
Rejala announced to his over 50,000 Twitter followers on June 6 that digital assets would be linked to “an essential 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 con un proyecto importante para innovar a Paraguay frente al mundo!El verdadero to the moon #btc & #paypal pic.twitter.com/ZMRJgAIxgO
— Carlitos Rejala (@carlitosrejala) June 7, 2021
According to Rejala’s prior pronouncements, the next bill will include provisions to make Paraguay a top destination for foreign cryptocurrency investors, enterprises, and possibly even Bitcoin miners.
This could include provisions allowing BTC to be accepted as legal tender.
Rejala, like other Latin American lawmakers, put laser eyes to his Twitter profile photo as a mark of his bullish perspective on Bitcoin.
Due to local economic and fiscal challenges, Latin America has emerged as a possible hotbed for cryptocurrency adoption, particularly in Argentina, Venezuela, and Mexico.
Latin America already has at least two bitcoin unicorns, according to Cointelegraph, a phrase used in the venture capital business to denote startups valued at $1 billion or more.
2TM Group, the parent company of Mercado Bitcoin, a Brazilian cryptocurrency exchange, just raised $200 million in funding from SoftBank, raising its total worth to $2.1 billion.
Meanwhile, Bitso, a Mexican crypto exchange, has raised $2.1 billion in a Series C fundraising round.