Paraguay walks the path paved by El Salvador, becoming the second country seriously considering implementing crypto-supportive regulations in an effort to upscale Bitcoin (BTC) adoption this week alone. Carlitos Antonio Rejala Helman, a Congress member in Paraguay, revealed on his Twitter account that he plans to propose brand new crypto-based legislation this next month.
Rejala Helman first hinted at his BTC aspirations in early June. He suggested that Paraguay is working on a project notably including PayPal and BTC itself. While the details for his upcoming proposal are still vague and up for speculation, many believe that Rejala Helman’s plans would most likely be influenced by El Salvador’s most recent push to render BTC as legal tender officially.
As per the experts, the two countries mentioned above picked an opportune time to announce their aspirations and intentions involving the booming crypto industry. This is because the surge of interest currently present in the crypto market has created more avenues for more miners and traders to go into, thus, expanding the space even further.
Rejala Helman states that the country needs to catch up with the new generation and its most popular technologies. There is no better path and time for them to take and move than the crypto industry and now.