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Paraguayan Congressman And Senator To Introduce Bitcoin Bill To Congress

Carlitos Rejala, the Paraguayan Congressperson, and Senator Fernando Silva Facetti have planned to introduce a Bitcoin (BTC) bill to Congress, underscoring the lawmakers’ urgency in formulating a coherent digital asset strategy for their country.

Rejala said:

“I am here to unite Paraguay.”

He added that he and his fellow lawmaker are planning a “mega surprise for Paraguay and the world.”

It has been reported that some lawmakers in the country want to follow El Salvador’s lead in making Bitcoin legal tender although Rejala didn’t specify what the bill would entail. On June 6, Rejala informed his more than 50,000 Twitter followers that digital assets would be connected to “an important project to innovate Paraguay in front of the world.”

However, based on Rejala’s previous statements, the forthcoming bill will introduce measures to make Paraguay a leading center for foreign cryptocurrency investors, businesses, and perhaps even Bitcoin miners. Potentially, this will include provisions to accept BTC as legal tender. Like other Latin American lawmakers, Rejala added laser eyes to his profile picture on Twitter, a symbolic way of showing his bullish outlook on BTC.

The report said that Latin America has emerged as a potential hotbed for cryptocurrency adoption due to local economic and fiscal pressures, especially in countries such as Argentina, Venezuela, and Mexico. As reported, Latin America is now home to at least two cryptocurrency unicorns, a term used in the venture capital industry to describe startups with a valuation of $1 billion or more.

2TM Group, the parent company behind Brazilian cryptocurrency exchange Mercado Bitcoin, recently completed a $200-million funding round with SoftBank, bringing its total valuation to an estimated $2.1 billion.

Thus, Mexican crypto exchange Bitso is valued at $2.1 billion after concluding a Series C funding round.

Source: Cointelegraph



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