TIMES.KY

Cayman Islands, Caribbeanand International News
Thursday, Mar 28, 2024

South America Is Eyeing Bitcoin: Who Will Be Next to Follow El Salvador?

South America Is Eyeing Bitcoin: Who Will Be Next to Follow El Salvador?

After Bitcoin's adoption as legal currency in El Salvador, the crypto world has been watching and waiting for who will be next. There are a few South American countries which are preparing to vote for legalizing crypto and paving the way for crypto infrastructure very soon.

Leaders from countries including Panama, Paraguay, Mexico, Argentina, Nicaragua, and Brazil, have all expressed support for cryptocurrencies and some are already moving to introduce legislation supporting the the digital currency.

Panama Is Preparing A Crypto Bill For July

Panamanian Congressman Gabriel Silva is preparing a bill to be unveiled next month that calls for widespread adoption of cryptocurrencies in the country as legal tender. Still further, the bill could potentially offer incentives for businesses that are in the crypto space such as tax exemptions and work permits.

Shortly after the announcement by El Salvador’s President Nayib Bukele, Silva tweeted knowingly about how important the adoption of cryptocurrencies is for keeping up with, and right now frankly leading, the rest of the world.

In English, the tweet reads:

“This is important. And Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies.

We will be preparing a proposal to present at the Assembly. If you are interested in building it, you can contact me”

Bitcoin has always been for the people, by the people. It is certainly fitting that a progressive young leader paving the way for crypto is available for contact and wants anyone interested to be involved in the project.

Is Paraguay Next to Adopt BTC?

Meanwhile, Paraguay is also aligning itself to become the crypto capital in South America. Congressman Carlos Rejala is leading the way with a bill that will entice crypto businesses and crypto mining companies to operate within the country. If this first bill is approved, he plans to present a second bill legalizing bitcoin and other crypto currencies as legal money within the country.

In English the tweet reads:

“As I was saying a long time ago, our country needs to advance hand in hand with the new generation. The moment has come, our moment.

This week we start with an important project to innovate Paraguay in front of the world!

The real one to the moon”

Rejala knows that in order to stay current with the rest of his South American peers, Paraguay must position itself to be on the forefront of the crypto revolution. He understands that this is a pivotal moment in history and that as the new generation, he must advocate for adopting blockchain technology.

Which Country Will Next Adopt Bitcoin?

South America is certainly leading the way ahead of the rest of the world when it comes to bitcoin, cryptocurrency, and blockchain technology adoption on a country-wide legalized scale. Soon enough, it seems like every country in South America will legalize some form of crypto.

Speculation is tough, but if the market continues it’s recent upswing, I suspect many more countries will be eager to get in on the crypto revolution.

Source: South America Is Eyeing Bitcoin: Who Will Be Next to Follow El Salvador? – Fintechs.fi

Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×