[2021-06-28] Bitcoin Won't Become A Legal Tender In Paraguay: Parliamentarian

[kriptomadness]

There have been several rumors concerning whether or not Paraguay has accepted or is trying to accept Bitcoin as a legal tender. This is feasible with the way countries like El-Salvador have implemented that.

How did this rumor start in the first place? On the 17th of this month, Coindesk tweeted about how one Paraguayan entertainment firm has started to accept Ether, Shiba Inu, Chiliz, and Bitcoin as a mode of payment. Carlos Rejala, a Paraguayan parliamentarian, retweeted the tweet with the comment “This is Paraguay 🇵🇾 July we legislate! #Bitcoin.”

Thus, this comment sparked off a lot of reactions in people. Some are thinking that Paraguay will soon tread the footsteps of El-Salvador by making Bitcoin a national currency too.

However, Carlos Rejala has cleared the air that nothing of such is going on in the country. “I was only pushing a bill to regulate cryptocurrencies for the daily use and adoption and not trying to make it a legal tender,” he stated to Reuters.

https://coinbench.com/bitcoin-wont-become-a-legal-tender-in-paraguay-parliamentarian-clarifies/

[bryant.coleman]

Well.. the chances were low.. given the fact that Paraguay has a national currency (unlike the case with El Salvador, where the national currency has a nominal existence). Replacing the national currency (Guaraní paraguayo) with a digital currency is more difficult when compared to doing it against a foreign currency such as the US Dollar. But I am quite happy that at least some of the politicians took a favorable stand towards the idea. Carlos Rejala will not be the last supporter of Bitcoin in the Paraguayan parliament.