After hinting at potential cryptocurrency legislation last week, a Paraguayan official has confirmed that the rule is coming in July.
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well.
CryptoPotato reported last week when Rejala Helman said his country planned to start working on an “important project” that included Bitcoin and PayPal
Although he provided little-to-no information at the time about the precise nature of the project, the official confirmed it’s coming in a more recent tweet.
Commenting on news indicating that one of Paraguay’s largest entertainment organizations has started to accept various digital assets, Rejala Helman emphatically asserted, “This is Paraguay. July we legislate! #Bitcoin.”
This comes shortly after Gabriel Silva, a Panamanian congressman, laid out plans to present a bill on cryptocurrency adoption as a legal tender as well.
He believes Panama should not trail other nations from the region that have already taken steps to legalize Bitcoin.
Naturally, he meant El Salvador. The small country located in Central America has been the leader in terms of BTC adoption.
As reported recently, the nation officially voted in favor of a new rule making Bitcoin a legal tender within its borders. El Salvador’s President, Nayib Bukele, further outlined his support for the asset and even urged miners to mine BTC with the thermal energy of the country’s volcanoes.