Paraguay Presidential Candidate Makes Bitcoin Centerpiece Of Campaign
Paraguayan Congressman Carlitos Rejala shared his plans to run for the presidency in 2023 and establish bitcoin as an official currency for his country if he wins.
Rejala took to Twitter to announce his intention of running for president in 2023 while also announcing that if elected, he would make BTC legal tender in the country.
“If we run for the presidency in 2023, #bitcoin as official currency
Rejala also co-authored a bill proposal with Senator Silva Facetti in July that sought to regulate Bitcoin in Paraguay, though that bill classified BTC as property instead of legal tender.
The progressive member of Paraguay’s Chamber of Deputies, goal of adopting Bitcoin is to “welcome the innovation of cryptocurrencies in Paraguay to the world.” However, the proposed bill sought to ensure tight control over bitcoin mining to the Paraguayan government and attempt to offer investor protection from bitcoin businesses in the form of intense regulation.
Since El Salvador enacted its Bitcoin law on September 7, many rumors have surfaced that other countries would follow suit in the coming months. Ukraine recently took steps in that direction by legalizing Bitcoin, although the new legislation did not make the currency a legal tender in the country. Paraguay is now the latest on the list, and its natural characteristics make it a perfect home for the bitcoin mining industry.
It is unclear if Rejala’s tweet indicates an actual intent to run for the presidency in his country. The congressman appears to be a Bitcoin bull; however, the intense scrutiny proposed by his bill poses some questions as to whether his country would be able to fully embrace Bitcoin.
