The South American country reels from a declining economy and ill-fated effects of dollar printing in the US. But officials are turning to Bitcoin to offset some of those side-effects, becoming one of the first nations to legalize the decade-old cryptocurrency in the world.
Making Bitcoin moves
Carlitos Antonio Rejala Helman, a deputy of the Nation and member of Congress in Paraguay, wrote on Twitter last night, “This is Paraguay. In July we legislate! #Bitcoin.”
The comment came in response to a tweet by the Paraguay Entertainment Group, the country’s largest entertainment company, which said it would accept Bitcoin, Ethereum, Shiba Inu, and Chiliz starting next month.
This is Paraguay