Following in the footsteps of El Salvador which has made the cryptocurrency, Bitcoin , a legal tender, Paraguay congressman Carlos Rejala is also said to be seeking support for the same thing to happen in his country.
However, Rejala denied that he fully pushed bitcoin as one of the legal tender in Paraguay, but only as a digital asset bill.
"This is a different bill and the digital assets from El Salvador because they regard it as a legal currency and in Paraguay may not be doing things like that," said Rejala as quoted from Reuters , Friday (25/6).
The controversy over bitcoin in Paraguay began when Rejala via his Twitter account said in July the country's parliament would pass a law for the use of the electronic currency.
And now, Rejala admits that he is garnering support to ratify the three bills that are planned to be submitted on 14 July. Despite having only four seats in parliament, he claims a number of other congressmen are interested in his proposal.
"We want regulators and banks to also participate so that paraguayans or foreigners can operate with these assets legally, because we know that illegal transactions exist here and in other countries," he said.
"We want to be a crypto-friendly country," added Rejala.
Earlier, El Salvador President Nayib Bukele said bitcoin would become the legal currency in his country from 7 September. The decision makes the Latin American country the first in the world to take the step.
Bukele said he believed the project would be a success and could be a 'leap for humanity', although the World Bank has refused to offer technical support, despite the International Monetary Fund having expressed concern.
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