Paraguay Official Plans to Legislate Bitcoin Next Month

Key Takeaways

  • Carlitos Antonio Rejala Helman, a Paraguay official, is planning to introduce Bitcoin legislation in July.
  • Rejala Helman previously hinted at this in June, when he suggested a project involving Bitcoin and PayPal.
  • One of Paraguay’s top entertainment companies, Grupo Cinco, is also planning to accept Bitcoin and other cryptocurrencies.

Carlitos Antonio Rejala Helman, a Deputy of the Nation and Member of Congress in Paraguay, plans to present a Bitcoin bill next month.

Official Suggests Legislation In July

Today, Rejala Helman stated on Twitter that he plans to introduce new Bitcoin and cryptocurrency legislation within the next month. “This is Paraguay,” he wrote. “July we legislate!”

Rejala Helman previously hinted at the introduction of new Bitcoin legislation in early June, when he suggested that the country would work on a project involving Bitcoin and PayPal.

Few other details have been revealed so far. However, El Salvador, which is introducing legislation that will make Bitcoin a form of legal tender, will likely influence Rejala Helman’s plans.

This type of legislation could make Bitcoin transactions more commonplace between individuals and in commerce.

Other Developments In Paraguay

The news comes after another related development. Grupo Cinco, one of Paraguay’s largest entertainment companies, is planning to accept cryptocurrency next month. The group will accept Bitcoin (BTC), Ethereum (ETH), Shiba Token (SHIB), and Chiliz (CHZ).

Grupo Cinco works with companies in the nightlife industry. That means it will help 24 companies—including nightclubs, restaurants, and pubs—accept the cryptocurrencies listed above.

Rejala Helman acknowledged Grupo Cinco’s plans to adopt cryptocurrency, stating that Paraguay’s youth is the country’s “main ally.” He added that “a whole new mindset shift is approaching” and said “the leap that Paraguay can make is unprecedented.”

Disclaimer: At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article