Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti are planning to introduce a Bitcoin (BTC) invoice to Congress on Wednesday, July 14, underscoring the lawmakers’ urgency in formulating a coherent digital asset technique for his or her nation. 

“I’m right here to unite Paraguay,” Rejala tweeted Friday, including that he and his fellow lawmaker are planning a “mega shock for Paraguay and the world.”

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Though Rejala didn’t specify what the invoice would entail, some lawmakers within the nation wish to observe El Salvador’s lead in making Bitcoin legal tender. On June 6, Rejala informed his greater than 50,000 Twitter followers that digital belongings could be linked to “an necessary challenge to innovate Paraguay in entrance of the world.”

Based mostly on Rejala’s previous statements, the forthcoming invoice will introduce measures to make Paraguay a number one middle for international cryptocurrency buyers, companies and even perhaps Bitcoin miners. Doubtlessly, it will embrace provisions to just accept BTC as authorized tender. 

Like different Latin American lawmakers, Rejala added laser eyes to his profile image on Twitter, a symbolic way of showing his bullish outlook on BTC.

Associated: What is really behind El Salvador’s ‘Bitcoin Law’? Experts answer

Latin America has emerged as a possible hotbed for cryptocurrency adoption because of native financial and financial pressures, particularly in nations like Argentina, Venezuela and Mexico. As Cointelegraph reported, Latin America is now dwelling to at the least two cryptocurrency unicorns, a time period used within the enterprise capital trade to explain startups with a valuation of $1 billion or extra.

2TM Group, the mum or dad firm behind Brazilian cryptocurrency trade Mercado Bitcoin, lately accomplished a $200 million funding round with SoftBank, bringing its complete valuation to an estimated $2.1 billion. In the meantime, Mexican crypto exchange Bitso is valued at $2.1 billion after concluding a Collection C funding spherical.