Paraguay Might Become World’s 2nd Country to Legalize Bitcoin

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Paraguay is on the way to become the second country in the world to legalize Bitcoin as legal tender.

After El Salvador recognized BTC as legal tender in the country earlier this month, now another Latin American country wants to do the same.

In a conversation with Cointelegraph, congressman Carlos Rejala has hinted the government will introduce a bill for discussion on the country’s parliament on July 14. Per the bill, Bitcoin as well as other cryptocurrencies would become legal tender in the country.

According to him, some major companies operating in the country have already given their support to the proposal. He has added:

“In that bill there are going to be several surprises.. I think it’s going to be extremely significant and important for the crypto world.”

He also said that next Wednesday the authorities are unveiling some more technical details on the initiative. However, the draft bill will only be presented next month as they are still working on some important aspects about Bitcoin and cryptos.