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June 28, 2022
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Paraguayan legislators will present a Bitcoin bill on July 14

Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti plan to present a Bitcoin (BTC) bill to Congress on Wednesday, July 14. Thus, they wish to underline the urgent need to formulate a coherent strategy for digital assets in this Latin American region.

I am here to unite Paraguay

– Rejala wrote on Twitter on Friday. He also added that he and Facetti were planning a “mega surprise for Paraguay and the world.”

Although Rejala has not specified the details of the law, some legislators in the country want to follow the example of El Salvador. As we reported some time ago, El Salvador made Bitcoin legal tender in the country. On June 6, Rejala informed his more than 50,000 Twitter followers that digital assets would be linked to “an important project that aims to bring innovation to Paraguay in front of the world.”

Building on Rejala’s earlier statements, we can assume that the upcoming bill will introduce measures aimed at making Paraguay a leading center for foreign cryptocurrency investors, companies and maybe even BTC miners.

Like other Latin American lawmakers, Rejala added laser eyes to his Twitter profile picture. Laser eyes are a symbolic way of showing his bullish gaze at BTC.

Latin America is becoming a crypto basin

Latin America has emerged as a potential hotbed for cryptocurrency adoption due to local economic pressures, particularly in countries like Argentina, Venezuela, and Mexico. It is currently home to at least two crypto unicorns – a term used in the venture capital industry to describe startups valued at $ 1 billion or more.

2TM Group, the parent company of the Brazilian cryptocurrency exchange Mercado Bitcoin, recently completed its $ 200 million funding round. Thus, its total valuation has increased to approximately $ 2.1 billion. Meanwhile, the Mexican cryptocurrency exchange Bitso is valued at $ 2.1 billion after the completion of its Series C funding round.

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