Paraguay Introduces Bill To Make Bitcoin a Legal Tender

On June 25, 2021, Paraguay becomes the 2nd country to legalise bitcoin after El Salvador. A new step towards the digital revolution.

The Paraguayan Member Of Parliament Carlitos Rejala introduced a bill later this Thursday in the session to pass bitcoin legal tender.

The bill in support will impact the economy of the nation to make it more sustainable in the future where inflation will heavily affect the world.

The MLA is a great cryptocurrency supporter and conveys his love towards virtual money by saying, “The bill will help position the country to trail the path of growth for the next generation.”

With great powers, comes great responsibilities. And with great responsibilities, comes great tweets,

For some of us, it’s like a dream!

Carlitos Rejala too tweeted about his conception of legalising Cryptos in the Country.

While, Paraguay doing so good in Copa America, the South American Nation didn’t back themselves doing good in Economics too.

After the recent crypto market crash, thrashing lots of hopes and wealth, Paraguay comes out with a piece of positive news.

After the news spread over the internet, Bitcoin price again jumped and attains 5% increment in the market. This move will surely add a positive impact on people’s mind. After El Salvador, Paraguay becomes the 2nd country to propose a bill to legalise bitcoin as a legal tender.

Via cryptoast.fr

Why nations are legalising virtual money?

First of all, It will make people aware of virtual assets. It’s a hard pill to swallow that cryptos are too price volatile and it scares people to invest in it. But, In the long term, it benefits more than a business as a passive source of income.

Secondly, It will help the individual nation’s economics to gain pace in comparison to other countries who haven’t made such decisions. Government will impose taxes on transactions.

Thirdly, It consumes less energy to mine cryptos than making a coin.

That’s all folks, see you in the next Twitter talks with more spicy tweets and news