Paraguayan Lawmaker to Present Bitcoin Legislation Next Month — Aims to Make Paraguay Global Crypto Hub

A pro-bitcoin congressman in Paraguay says he’ll present bitcoin laws in congress next month with the intention to make Paraguay a heart for cryptocurrency investors globally. His efforts follow with El Salvador passing a statement producing bitcoin legal tender.

Paraguay Wants to Be Worldwide Hub for Crypto Investors

After El Salvador departure a charge creating bitcoin legal tender, and a congressman at Paraguay announced that he is working on bitcoin laws which is going to be presented .

Deputy Carlos Antonio Rejala Helman of the Hagamos Party has known for Paraguay to take comparable actions to El Salvador regarding bitcoin. The congressman also has altered his Twitter profile picture to add laser eyes, which means he eyes bitcoin going to $100K.

The deputy is currently preparing a bill that seeks to legalize the use of cryptocurrencies in Paraguay as a means of payment, La Nacion reported Friday. The bill will demonstrate any trade within the national land can be performed with bitcoin along with the nation will be in charge of promoting and training the different sectors so they can access this new type of digital payments, the book conveyed.

The congressman was quoted as saying:

Since we declared that we are working to get a bill that legalizes in Paraguay the use of digital assets, much better known as digital currencies, or its hottest version, bitcoin, as legal tender for any kind of commercial transaction, many Paraguayan companies have already joined and took a step forward towards the new age of transactions, making us happy.

The lawmaker aims to show his bill in congress in July. Noting that the legislation has been ready, he tweeted on June 17 with all the hashtag bitcoin,”July we legislate.” He followed with another tweet which says:”The presentation of the project is coming on July 14.”

The congressman revealed early this month he is operating with Bitcoin.com.py CEO Juanjo Benitez Rickmann and”the Paraguayan crypto community in order for Paraguay to develop into a hub to the crypto investors of earth and then to be put one of the people on the very edge of digital technologies.”

Rickmann confirmed that he is working with the congressman”to present a job in congress so that Paraguay becomes a crypto-friendly country for worldwide crypto investors, benefiting from their renewable and affordable energy offered by hydroelectrics #Itaipu #Yacyreta.”

The congressman tweeted about June 7:

As I was saying a long time ago, our nation should advance together with the new generation. The moment has come, our second.

“This week we start with an important job to innovate Paraguay in front of the world. The actual one into the moon BTC & #paypal,” his tweet further reads.

Meanwhile, the cryptocurrency adoption is growing in Paraguay. A major entertainment team in the nation, Grupo Cinco, declared last week which all its 24 business units now accept cryptocurrencies bitcoin (BTC), ether (ETH), shiba inu (SHIB), along with chiliz (CHZ). In addition, Universidad Comunera (UCOM), a private university in Asunción, Paraguay, now accepts bitcoin for obligations.

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