A Paraguayan official, Deputy of the Nation, Carlos Helman, said the country is going to legalize BTC in July.
Related: Indonesia banned payment for goods and services using BTC
He informed the news via Twitter. Rejala is a Bitcoin supporter and his profile picture on Twitter is with Laser Eyes. He says Paraguay needs to make progress hand-in-hand with the new generation.This is Paraguay šµš¾ July we legislate! #Bitcoin https://t.co/4e4wH7uDrl
— Carlitos Rejala ššµš¾š (@carlitosrejala) June 17, 2021
Previously, Latin American country El Salvador became the first to legalize BTC. Panama also allowed the possibility of doing so. A Panamian congressman Gabriel Silva presented a bill on crypto allowance.
However, the process of legalization isn't going smoothly. The World Bank rejected the request from El Salvador to help with Bitcoin adoption.
An official of the establishment said the reason for rejection is the lack of availability to support BTC given the environmental and transparency shortcomings.
Currently, Bitcoin trades at around $35.600 with a market cap of $668.9 B.