El Salvador in Central America is the first country in the world to recently officially recognize Bitcoin as a medium of exchange. Following in the footsteps of El Salvador, the South American country of Paraguay is proposing a bill to legalize bitcoin as an exchange currency.
Carlos Rajala, a Paraguayan politician and lawmaker known as a big supporter of Bitcoin, said a draft bill would be tabled in parliament to allow the government to use Bitcoin as a means of payment. Even his promise, the bill will be passed into law in July.
According to Carlito’s Resale, recognizing Bitcoin as the official currency will help lead the country to financial prosperity for the next generation.
