Lawmaker in Paraguay says he will introduce bitcoin regulation law next week

Carlitos Rejala is a bitcoin-friendly lawmaker in Paraguay, set to introduce legislation focused on regulation with Senator Fernando Silva Facetti to present together with the bill bitcoin on Wednesday, July 14.

The Senator will also putting a bill that has a real impact, is adapted to the national reality, integrates the needs of supervision and control, guarantees investment, and protects the rights of consumers.

Carlitos Rejala is pushing Paraguay to follow in the footsteps of El Salvador, to create a law declaring bitcoin as a form of legal tender. 

“We want the regulators and banks to also participate so that Paraguayans or foreigners can operate with these assets legally, because we know that illegal transactions exist here and in other countries,” he told the outlet late last month. “We want to be a crypto-friendly country.”

On the question of taking a similar approach to El Salvador, Rejala was quoted as saying: “It is a bill of digital assets and it differs from that of El Salvador because they are taking it as legal currency and in Paraguay it will be impossible to do something like that.”

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