As is well known, El Salvador has added bitcoin to its financial system and bitcoin has become a recognized currency with the US dollar there.

To show a number of news and reports about the intention of many neighboring countries of El Salvador to enter the crypto market and consider Bitcoin also a legal tender.

Paraguay has emerged as the next country to announce the adoption of bitcoin as a legal tender.

But this does not appear to be the case.

In a recent article conducted by Mr. Carlos Regala, a Paraguayan Congressman with Reuters At the end of the week, he corrected what was being circulated, and explained by saying:

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In El Salvador Bitcoin has been certified as legal tender.

Whereas in Paraguay, it would be impossible to do such a thing.

It is better to put an end to the rumors that the country is making its own moves in the field of legalizing bitcoin.

Countries interested in Bitcoin:

El Salvador legalized bitcoin last month in a historic move, becoming the first and only country in the world to legally accept BTC for exchange of products and services for citizens.

President Najib Bukele has urged fellow ministers from Latin America to come up with a repeat of his own experience of the bitcoin bill, a law moving away from centralized state currencies toward decentralized alternatives like bitcoin.

Countries have followed suit, but so far only statements and declarations of intent.

In the past few weeks, officials from Colombia, Mexico and Paraguay have expressed their intentions for the Bitcoin Act, a law that would make the digital asset recognized as a legal currency in their countries.

Carlos Regala’s recent statement is a 180 degree turn from his last tweet indicating otherwise earlier this month.

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He told that Paraguay will start adopting Bitcoin.

This is Paraguay 🇵🇾 July we will embark! # bitcoin

– Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 17, 2021

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Carlos Regala, 39, leads a political party with only four seats in the Paraguayan Congress.

A draft law regulating cryptocurrency is scheduled to be submitted on July 14, for his part, “Regala” confirmed work on three drafts in the same regard.

Regala commented on the cryptocurrency regulation bill, saying:

We want the regulators and the participating banks as well so that Paraguayans or foreigners can operate these assets legally because we know that illegal transactions exist here and in other countries

We want Paraguay to be a crypto-friendly country.

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