Bitcoin Becoming Legal Tender in Paraguay? ‘Impossible’, Says Congressman

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Bitcoin Becoming Legal Tender in Paraguay? ‘Impossible’, Says Congressman

On Friday (June 25), Paraguayan congressman Carlos Rejala, who on June 17 got the crypto community excited when he tweeted about upcoming Bitcoin-related legislation, now says that he was not talking about making Bitcoin legal tender in his country.

According to a report by Reuters, El Salvador President Nayib Bukele announced during a national address on Thursday (June 24) that the bill to make Bitcoin legal tender will become effective in the central American nation on September 7.

As you may remember, the “Bitcoin Law” got passed by El Salvador’s Legislative Assembly on June 9.

Mean while, over in South America, Paraguayan congressman Carlos Rejalat said in a tweet “country needs to advance hand in hand with the new generation” and that there is “an important project to innovate Paraguay in front of the world”.

Then on June 17, Congressman Rejala tweeted that next month sent out a tweet that suggested that Paraguay would soon be introducing some Bitcoin-related legislation.

Well, on June 25, Rejala told Reuters about the purpose of the crypto bill he was talking about back on June 17:

It is a bill of digital assets and it differs from that of El Salvador because they are taking it as legal currency and in Paraguay it will be impossible to do something like that.

Rejala, who is confident this bill will get approved by the Congress of Paraguay, went on to say:

We want the 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… We want to be a crypto-friendly country.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “DavidRockDesign” via Pixabay

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