Gabriel Silva, a Panamanian congressman, is transferring to comply with in El Salvador’s footsteps by proposing laws to undertake Bitcoin and different cryptocurrencies on a nationwide scale. 

El Salvador’s president, Nayib Bukele introduced through the Miami Bitcoin conference on June 6, that he’ll submit a invoice to lawmakers demanding that Bitcoin be made authorized tender.

In a June 8 tweet, Silva emphasized the importance of Panama not being left behind by Bukele’s progressive crypto plans, which additionally consists of removing capital gains tax on Bitcoin in El Salvador. Based on a tough translation, Silva asserted:

“That is vital. And Panama can’t be left behind. If we wish to be a real expertise and entrepreneurship hub, now we have to help cryptocurrencies.”

“We might be making ready a proposal to current on the Meeting. If you’re desirous about constructing it, you may contact me,” he added.

Bukele’s announcement has prompted related strikes from different politicians throughout Latin America, nevertheless, few concrete coverage proposals have been introduced.

On June 7, Paraguayan congressman, Carlitos Rejala, tweeted “El Salvador to the Moon” and uploaded an image of himself with laser eyes — a well-liked crypto meme used to precise Bitcoin maximalism on crypto Twitter.

Earlier at this time, the crypto group had turned their consideration to Brazilian politician, Fábio Ostermann, who equally posted an image of himself with laser eyes accompanied by the hashtag “#lasereyestill100k.”

Regardless of optimistic sentiment on social media concerning the obvious bullishness of Latin American lawmakers, the value of Bitcoin has continued to decline.

The worth of Bitcoin has slumped roughly 10% since Bukele’s June 6 announcement from $36,000 to roughly $32,500 on the time of writing.