Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti plan to introduce a Bitcoin (BTC) proposal to Congress on Wednesday, July 14, emphasizing the urgent need for lawmakers to formulate a coherent digital asset strategy for their country.
“I am here to unite Paraguay,” Rejala tweeted Friday, adding that he and his fellow lawmaker are planning a “mega-surprise for Paraguay and the world.”
I’m here to unite Paraguay, so we decided with Senator @FSilvaFacetti to present the #bitcoin bill together on Wednesday, July 14th!
Keep an eye out as there will be a mega surprise for Paraguay and the world. Something GIANT is coming #Bitcoin #btc
– Carlitos Rejala (@carlitosrejala) July 9, 2021
Although Rejala did not specify what the bill would entail, some lawmakers in the country will follow El Salvador’s leadership in making Bitcoin a legal tender. On June 6, Rejala announced to his more than 50,000 Twitter followers that digital assets would be associated with “an important project to innovate Paraguay in front of the world.”
As I said a long time ago, our country needs to go hand in hand with the new generation.
The moment has come, our moment.
This week we start with an important project to innovate Paraguay in front of the world!
The real to the moon #btc & #paypal pic.twitter.com/ZMRJgAIxgO
– Carlitos Rejala (@carlitosrejala) June 7, 2021
Based on Rejala’s previous statements, the forthcoming bill will introduce measures that make Paraguay a leading center for foreign cryptocurrency investors, companies 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 to show his bullish view of BTC.
Related: What’s really behind El Salvador’s ‘Bitcoin Law’? Experts answer
Latin America has emerged as a potential hub for the adoption of cryptocurrency due to local economic and fiscal pressures, particularly in countries such as Argentina, Venezuela and Mexico. As Cointelegraph 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 of the Brazilian cryptocurrency exchange Mercado Bitcoin, recently completed a $ 200 million financing round with SoftBank, bringing its total value to an estimated $ 2.1 billion. Meanwhile, the Mexican crypto exchange Bitso is valued at $ 2.1 billion after completing a Series C funding round.