Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti are planning to introduce a Bitcoin (BTC) invoice to Congress on Wednesday, July 14, underscoring the lawmakers’ urgency in formulating a coherent digital asset technique for his or her nation.
“I’m right here to unite Paraguay,” Rejala tweeted Friday, including that he and his fellow lawmaker are planning a “mega shock for Paraguay and the world.”
I’m right here to unite Paraguay , that’s the reason we determined with Senator @FSilvaFacetti to current collectively the invoice #bitcoin on Wednesday, July 14!
Keep tuned since there might be a mega shock for Paraguay and the world. One thing GIANT is coming #Bitcoin #btc
— Carlitos Rejala (@carlitosrejala) July 9, 2021
Though Rejala didn’t specify what the invoice would entail, some lawmakers within the nation need to observe El Salvador’s lead in making Bitcoin legal tender. On June 6, Rejala informed his greater than 50,000 Twitter followers that digital property can be related to “an essential venture to innovate Paraguay in entrance 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!
— Carlitos Rejala (@carlitosrejala) June 7, 2021
Based mostly on Rejala’s previous statements, the forthcoming invoice will introduce measures to make Paraguay a number one heart for international cryptocurrency traders, companies and even perhaps Bitcoin miners. Probably, it will embrace provisions to simply accept BTC as authorized tender.
Like different Latin American lawmakers, Rejala added laser eyes to his profile image on Twitter, a symbolic way of showing his bullish outlook on BTC.
Associated: What is really behind El Salvador’s ‘Bitcoin Law’? Experts answer
Latin America has emerged as a possible hotbed for cryptocurrency adoption attributable to native financial and monetary pressures, particularly in nations like Argentina, Venezuela and Mexico. As Cointelegraph reported, Latin America is now dwelling to a minimum of two cryptocurrency unicorns, a time period used within the enterprise capital business to explain startups with a valuation of $1 billion or extra.
2TM Group, the father or mother firm behind Brazilian cryptocurrency alternate Mercado Bitcoin, just lately accomplished a $200 million funding round with SoftBank, bringing its whole valuation to an estimated $2.1 billion. In the meantime, Mexican crypto exchange Bitso is valued at $2.1 billion after concluding a Sequence C funding spherical.