A group of Paraguayan lawmakers presented a ‘Bitcoin bill’ in the National Congress last week, but it turned out to be a very different proposal than what crypto followers expected. The bill seeks to control and regulate cryptocurrency transactions and establish taxes. There is no mention of declaring bitcoin or any other cryptocurrencies as legal tender anywhere in the proposal.
“Bitcoin Bill” Presented in Paraguay
The long-hyped ‘Bitcoin bill’ was at last presented in Paraguay to the National Congress by two lawmakers last week, but it was not what some had anticipated. The project presented by deputy Carlos Rejala and the liberal senator Fernando Silva Facetti doesn’t aim to declare bitcoin as legal tender, as El Salvador did last month. In fact, it states the opposite. An early draft states:
“Digital assets are not legal tender currencies used by the Paraguayan State, and for this reason they are not backed by the Central Bank of Paraguay”
Instead, the proposed