Inside Paraguay’s Proposed Bitcoin Bill

In a WhatsApp conversation I had with Paraguayan Congressman Carlitos Rejala, he shared the draft of a bill meant to regulate Bitcoin in Paraguay.

“With this we want to welcome the innovation of cryptocurrencies in Paraguay to the world,” Rejala said over WhatsApp. “This is the result of a very strong and arduous teamwork of many experts in the field, both local and foreign.”

A translated version of the bill proposal refers to bitcoin and other cryptocurrencies as “virtual assets,” “cryptoactive,” and “cryptocurrency.”

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