After hinting at it last week, a Paraguayan official has stated that cryptocurrency law would be implemented in July.
Carlos Antonio Rejala Helman, Paraguay’s Deputy of the Nation, has announced that new Bitcoin laws would be implemented in July. This comes amid rising adoption in Latin America, headed by El Salvador, with Panama perhaps the following suit.
Last Monday, Rejala Helman said that her country would begin work on an “important initiative” including Bitcoin and PayPal.
Although he offered little to no details on the initiative, the official acknowledged its existence in a more recent tweet.
Rejala Helman stated strongly that Paraguay is in response to news that one of Paraguay’s major entertainment groups has begun to accept different digital assets. We legislate in July! #Bitcoin.
After Gabriel Silva, a Panamanian lawmaker announced plans to introduce legislation to make cryptocurrencies legal tender.
He feels Panama should not lag behind other countries in the area that have already legalized Bitcoin.
Naturally, he was referring to El Salvador. However, in terms of BTC acceptance, the little Central American country has been the frontrunner.
As reported previously, the nation has voted in favor of a new regulation making Bitcoin legal money within its borders. El Salvador’s President, Nayib Bukele, expressed his support for the cryptocurrency and even encouraged miners to mine BTC using the country’s volcanoes’ thermal energy.